2015 California Biomedical Industry Report – Page 5
California provides a case study in how to build a robust life sciences industry from scratch. It starts with a world-class academic system. In turn, the innate curiosity nurtured by outstanding education produces waves of innovators. Not satisfied with the status quo, these entrepreneurs often dedicate their lives to making things better. By attracting both public and private investment, their ideas are ultimately transformed into life-saving products.
But this formula didn’t just happen. The innovation pipeline was supported, in large part, by favorable public policies that have allowed creative minds to flourish. That approach has helped California’s life sciences industry become the leader it is today.
However, the world is changing rapidly, and the state cannot afford to rest. Global competition has increased dramatically in the past decade, and will continue to be a challenge. Both the state and nation must always remain one step ahead of these dynamic market forces to ensure continued leadership in biomedical education, research, investment and product development.