New report highlights need for European governments to do
more to ensure that R&D leads to new businesses, new products
and additional jobs
Brussels, 27 March 2012- National governments
in Europe need to do more to ensure that R&D innovation in the
biotech industry is translated into new businesses, new products
and additional jobs according to a new report launched by Ernst
& Young and EuropaBio, "What Europe has to offer biotechnology
companies: unraveling the tax, financial and regulatory
framework".
The report found significant variation in the regulatory and
policy environment for biotechnology companies across Europe, which
has a significant impact on success and policies across the
region.
The differences range from basic policies and regulations which
encourage financing for start-ups, to the ability to encourage
entrepreneurs and attract competent managers.
The report was launched today by EU Commissioner for Research,
Innovation and Science, Máire Geoghegan-Quinn, at the European
Parliament during the EuropaBio Benefits of Biotechnology event
hosted by Member of the European Parliament Francoise
Grossetete.
Attended by more than 120 people, and opened by Commissioner for
Health and Consumer Policy John Dalli, the event focused on the
contribution of biotechnology to society's challenges such as
feeding and healing an ageing population, environmental
sustainability, economic growth and maintaining Europe as a center
of scientific excellence.
Stephan Kuhn, Ernst & Young EMEIA Tax Leader, said: "A
consistent tax and regulatory environment for biotech SMEs across
Europe is essential if the industry is to have sustainable growth
and remain competitive compared with other regions."
"This report shows some governments have recognized the
importance of policies and programs that foster a strong community
of SMEs in biotechnology, such as R&D tax credits or low
corporation tax for example, whereas others have not," he
added..
National governments, together with the
EU, need to make sure that the policies are in place to make
funding more accessible to SMEs involved in
biotechnology.
The report surveyed 16 countries across Europe on the tax,
financial and regulatory incentives their governments provide to
investors, entrepreneurs and researchers in the bioeconomy, and the
challenges facing SMEs.
The report compares the tax concessions on offer in each
country, financing opportunities for SMEs, and the benefits that
can flow from a decision to establish a start-up in a particular
location.
A similar call for a coordinated, regional approach to create an
agressive market for clean technology products and services was
raised recently at GLOBE 2012 in Vancouver. A report commissioned
by the Pacific Coast Collaborative, a policy oriented partnership
involving the U.S. States of Washington, Oregon and California and
the province of British Columbia - "The West Coast Clean Economy
Report" - points out that "accelerating the
transition to a cleaner economy requires vision, leadership, and
coherent, economy-wide, strategic approaches."
The report stresses that regional collaboration will allow the
leveraging of each jurisdiction's strengths to create a strong,
globally competitive market for clean technology.
Thomas Saylor, EuropaBio Chair of the SME Platform, stated:
"This report represents an important contribution to the policy
debate over measures that can significantly benefit biotech SMEs in
Europe and ensure that Europeans benefit from the biological
sciences."
"There is growing recognition by the European Commission and
policy makers throughout Europe of the importance of biotech SMEs
to Europe's future prosperity. As such, the report can play a major
role in establishing an agenda for policymakers seeking to ensure
an attractive environment for investors and biotech entrepreneurs,"
he added.
Please visit here to view the report