DISTANCE is not dead. In biotechnology, as in other tech-based industries, the clustering of similar firms is more important than ever. Some American biotech startups are based in the San Francisco and Silicon Valley area, huddled with its many digital and IT startups. But the Boston metropolitan area—and in particular Cambridge, across the Charles river from central Boston—seems to be holding its own as the world’s pre-eminent biotech hub.
The San Francisco area’s pool of venture capital is beyond compare; and a biotech-industry body there, the California Life Sciences Association, argues that California is the number one state for biomedical employment. But in part that is simply a reflection of the state’s large population, which means its health-care business is necessarily big. The Massachusetts Biotechnology Council claims that its state employs more people in biotech research and development than any other.
A study published last month by the Massachusetts Institute of Technology (MIT) found that although, per head, the Boston area had fallen well behind San Francisco and Silicon Valley in creating software and internet...Continue reading
Source: Business and finance http://ift.tt/1PuZz7v
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