Biotech can become a growth driver for Austria
EcoAustria Director Köppl-Turyna names access to capital, regulation and talent development as key factors for the location
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biotechnology as an Austrian growth engine: At the 5th Biotech Circle Austria, the industry calls for better framework conditions and more determination in implementation. Around 100 leading representatives from research, industry, politics and the financial world networked at the 5th Biotech Circle Austria at the Vienna Stock Exchange to discuss Austria's position in the global competition in the biotechnology and life sciences sector. The focus was on how the industry can exploit its full potential.
To kick off the event, Prof. Dr. Monika Köppl-Turyna, Director of EcoAustria, impressively outlined the path from innovation to economic and social impact in her keynote speech "Start Up - Scale Up - Step Up: From Innovation to Impact". She highlighted Austria's strong scientific foundations and the dynamic growth of the life sciences sector, but also pointed out the massive structural hurdles that have so far limited translation, scaling and global competitiveness. Based on economic data and international comparisons, she made it clear that biotechnology can become a real industrial growth engine for Austria - provided that access to capital, regulatory framework conditions and talent development are strengthened in a targeted manner.
"Austria has everything it needs to be a leading biotech location - excellent research, committed entrepreneurs and a strongly networked ecosystem," affirmed Peter Llewellyn-Davies, President of BIOTECH AUSTRIA. "Events such as the Biotech Circle Austria show how much momentum already exists. Now we need to harness this momentum and consistently turn it into impact."
"Biotechnology is not a niche sector - it is a strategic pillar for Europe's future competitiveness. If Austria succeeds in better combining science, capital and politics, it can play a much stronger role in the global innovation competition," said Prof. Dr. Monika Köppl-Turyna.
The subsequent panel discussion entitled "Step up or Fall behind - Austria in the Global Biotech & Life Sciences Race" directly followed on from the key messages of the keynote speech. Florian Frauscher (MLS), Head of Section at the Federal Ministry for Economic Affairs, Energy and Tourism, and Dr. Philipp Kinsky, Partner at Herbst Kinsky Rechtsanwälte and expert in venture capital and start-ups, discussed with Prof. Dr. Köppl-Turyna how scientific excellence can be translated into start-ups. It is crucial to mobilize more growth capital - including venture capital, pension funds and public-private instruments. The role of a national fund-of-funds as well as European capital market integration, translational funding and talent retention and the importance of strong cluster structures were highlighted.
With its combination of data-based analysis, open dialog and solution-oriented perspectives, the 5th Biotech Circle once again made it clear that Austria has a powerful biotechnology ecosystem whose potential can be fully exploited with the right political framework conditions. Clear priorities for financing, competitiveness and innovation remain crucial in order to sustainably strengthen the location internationally.
Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.
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