Boston-Cambridge, a Life Science Cluster that is Second to None
Torsten Jepsen is the newly appointed Life Science Ambassador. He is based in one of the world’s leading life science clusters, Boston-Cambridge, Massachusetts, US.
The new ambassador will create contacts across the Atlantic, and the attraction of American venture capital will be one of his key tasks. With this latest expansion, the first step in a potentially very valuable cooperation has been taken.
By any measure, Boston, Massachusetts, is at the heart of the global biotechnology industry. Massachusetts universities and academic medical centers have been a noteworthy engine of innovation in critical new science that has an enormous impact on health care and the quality of people’s lives. With a growth from 2000-2009 of 60%, more than 480 biotechnology companies with a total of almost 900 drugs in development, Boston-Cambridge is by all measures one of the largest regional concentrations of biotech companies in the world.
The state and it’s economy have benefited from this global leadership. During the past five years, employment in the biotech industry has grown 10 percent annually and has contributed roughly half of the new industrial jobs in Massachusetts. Today, biotechnology accounts for 18 percent of the state’s venture-capital investment, 27 percent of its R&D spending, 16.5 percent of its public companies, and approximately 10 percent of its market capitalization. What’s more, the fact that approximately 8 percent of the world’s pipeline of new medications (pharmaceuticals as well as biotech) is now located in Massachusetts, represents enormous potential for growth and job creation.
These are just some of the interesting characteristics of the cluster, an in-depth Cluster mapping report is scheduled for later this year.
At the center of the development of the Boston-Cambridge Cluster is the trade association, the Massachusetts Biotechnology Council (MassBio). MassBio is a not-for-profit organization committed to advancing the development of critical new science, technology and medicines that benefit people worldwide.
Founded in 1985, MassBio represents over 600 biotechnology companies, academic institutions, research hospitals, and service organizations involved in life sciences and health care, and works to advance policy and promote education, while providing member programs and events, industry information, and services.
Torsten Jepsen, Life Science Ambassador to Medicon Valley
MVA has signed an agreement with MassBio to partner on the Ambassador Program, and Torsten Jepsen will be Medicon Valley’s man on the ground. Torsten Jepsen has been in close dialogue with some of the stakeholders in Medicon Valley, regarding what tasks he should undertake while in Boston-Cambridge. As formulated by Torsten Jepsen himself, he will be working on three different levels: A policy level where he will analyze and bring home best practices from Massachusetts on how to optimize framework conditions and the regional life science ecosystem in general. A platform level with the aim of bringing larger groups of stakeholders together, and an organizational level, where he will help companies and universities on individual basis to identify and meet potential partners. More Information and Contact
If you have any questions regarding the Ambassador program, the cooperation with MassBio and the Boston-Cambridge cluster or wish to find out more about what services Torsten Jepsen and the other ambassadors provide to organizations, please do not hesitate to contact us. Also, if you are interested in learning more about Torsten Jepsen, his background and his aspirations for being an ambassador, the last edition of the Life Science Ambassador Programme featured an interview with him.
Source: Medicon Valley Alliance, 04.07.2011