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The apparent benefits of biotechnology in the area of human health and life style has catapulted companies and governments alike to sit together and create a positive framework for the industry to foster for the good of one and all. Following measures can be taken by the industry mandarins and government captains to reap the benefits of tremendous opportunities offered by the sector. Long Term, Creative Government Support: Governments can encourage the biotech sector by providing incentives to overcome difficult economic conditions. For example Brazilian authorities dealt with high inflation rates and Cuban authorities revised foreign investment laws. In fact, political will and a strong government role have been essential for all countries with strengths in biotechnology. This is the same model the U.S. government adopted many years ago. America’s world-leading biotech industry has been strongly supported by government in nearly every stage of its evolution.: The loss of the best and brightest researchers to developed countries like the U.S. is a serious and ongoing challenge for the developing countries and governments can play an important role in stemming this ‘brain drain’. Since the late 1990s China has made concerted efforts to encourage expatriate professionals to return and contribute to the research efforts. Incentives include the provision of funding for the establishment of laboratories in China and schemes to enable returning scientists to establish firms. Similar trends have also been noticed in India where a large number of NRIs are coming back to the homeland in view of the growing opportunities and incentives being offered in the country. Specialization Produces Cost-effective Results: Focusing on a particular specialized area is what is required for developing countries. For example, recombinant vaccines are relatively easy to reproduce and can be much more cost-effective way to deal with infectious diseases than drugs. India, for example, is developing vaccines for hepatitis B and C. With limited resources and underdeveloped private sectors, targeting specific areas that fit both their needs and existing strengths is an effective strategy employed by some developing nations. Private Sector Powers Products and Services: Engaging and sustaining private sector growth and commercialization of scientific discoveries as products is what is required. Private participation is essential for integrating various sources of knowledge in health biotechnology and turning them into products and services. Successful Innovation Requires Collaboration: Successful innovation requires widespread collaboration and cooperation. China’s lack of collaboration prevented its scientists from being the first in the world to sequence the severe acquired respiratory syndrome (SARS) virus. |
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