We work to improve our R&D system
R&D is at the core of the business model for companies in the biotechnology sector
Why is R&D important to the biotechnology sector?
Biotechnology companies develop disruptive innovations that have a huge impact on society and the planet, and operate in complex, highly regulated markets. As a result, biotechnology innovations are known for their long development cycles, significant investment needs and high risks.
Most biotechnology companies are SMEs and micro-enterprises that don’t have products on the market, which means they don’t generate resources to fund their activities. As a result, access to external funding is key to the development of the biotechnology ecosystem and one of AseBio’s top priorities.
Therefore, the biotechnology sector needs dynamic investment ecosystems with:
- A favourable legal and regulatory environment
- A framework that encourages investment and incentivises R&D
- A broad, diverse, powerful network of investors
At AseBio we work to promote public policies that favour highly innovative companies like biotechnology firms, but also connect them with national and international investors and with projects looking for funding.
How do we promote access to funding through AseBio?
We work to improve the Spanish framework of R&D incentives, working with the government to make sure that direct aid programmes for R&D (grants and loans) adapt to the characteristics and needs of biotechnology companies. Our business models and the maturity cycles of our innovations need incentives that adapt to these characteristics.
Plus, we believe that attracting private investment is key to turning our R&D into solutions that improve people’s lives and make the planet more sustainable. That’s why we work with specialised venture capital funds, which play a central role in funding business initiatives in biotechnology. In fact, AseBio has seven investment funds among its members.
We also promote activities to help biotech companies access and learn about capital markets, which play an increasingly important role in channelling investment to biotechnology companies. And we strive to help bring about formulas such as public procurement of innovative solutions (PPI), both to give business R&D better access to public funding and to speed up the incorporation of innovation in public systems.
Our work to improve access to funding comes about through promoting internationalisation and joining forces with our companies in order to access international capital (AseBio Investor Day and BIOSPAIN investment forum).
All of these activities, plus the relationships national venture capitalists have forged with their global counterparts and the growing interest in Spanish biotechnology on a global scale, have brought about a growing trend in international investment in our sector that we will continue working to consolidate in the coming years.
- At AseBio, more than 233 organisations are working to improve R&D incentives through the Funding R&D and Business Development workgroup.