Why Take A Worldview?
The breadth of biotechnology—from advanced farm crops and novel pharmaceuticals to forests that hold the raw materials for biofuels—takes us around the world. Every country benefits from biotechnology in some way, more likely many ways. In addition, a wide range of thinking—scientific, political, financial, regulatory, social—determines what biotech can and cannot do. To assess this jumble of interacting objectives and controlling forces, one must take a worldview.
Innovation is a key element of biotechnology. In most cases the important discussions of innovative capacity and output take place primarily among government economists and academic researchers. It is our intention to bring this discussion to a larger audience in a meaningful, independent forum; too often a region or country’s climate for scientific growth and development is masked by marketing messages. As taxpayers, innovators, commercial partners and consumers, it is important to understand why innovation matters and how best to measure and support it.
Before descending into any details, we must ask the fundamental question: Why do governments invest in biotechnology? First, global economies desire the economic and social benefits that biotech brings, such as creating high-value products, which can be sold in international markets. Thus, policies that foster the creation of these products expand domestic economies through revenues from foreign sales. Second, biotechnology generates high-paying jobs, which can increase both a nation’s prosperity and the quality of life of its citizens. Third, biotechnology impacts health, nutrition and the environment. The ability to produce drugs domestically, for example, can reduce healthcare costs and improve overall care in small or poor economies. And the ability to improve crop yields addresses the pressing need faced by many nations to feed increasing populations with a diminishing amount of arable land. For these nations, biotechnology can help avoid otherwise inevitable mass starvation. And, of course, biotechnology can reduce the financial cost and environmental impact of industrial processes, helping corporations profit and governments attain their “green” goals of the future.
This project—the assessment of innovation in international biotechnology—was conceived prior to the current global economic crisis, at a time when the funding environment for biotechnology was very different than it is now. Our initial goal was to inventory global activities that support the development of domestic biotechnology industries, and to rank the performance of the various initiatives. Since we started, the environment has changed and the stakes are now much higher. Biotechnology requires great up-front capital investments—often well in advance of revenues—that make biotechnology companies especially sensitive to poor capital-raising environments.
In a sense, the current economic climate serves as a test of resolve. It is easy to pledge large investments to support biotechnology companies when cash is plentiful, but in a financial crisis, supporters must carefully assess their priorities. The influence of the economic crisis will undoubtedly transform the global biotechnology industry and separate the weak from the strong—distinguishing policies that enable growth from ones that do not. Still, choices will be complex. Legislators will make policy decisions with future elections at risk. Moreover, tax subsidies to biotechnology could create higher taxes for other industries or taxpayers in general. It will be interesting to follow the choices that leaders make.
To explore this variety of topics, we have gathered a unique mix of editorial perspectives from overviews, such as our data-driven scorecard of global biotechnology innovation, to more-focused pieces, including a dozen country-specific vignettes, and traditional feature articles. We welcome your comments and feedback and look forward to continuing this important conversation.
