Newsletter Editorial, May, 2021
Last week, several parties from the Danish parliament agreed on a national strategy for life science with 38 new initiatives and an overall objective to further strengthen the life science industry. An investment of 36 million euros from 2021 – 2023.
It is commendable to see legislators continuously invest in a well-established industry. A space that historically has been and still is of utmost importance to Denmark.
It is a boost for the industry, but also an acknowledgment of the fact that it is a joint effort to further develop this space.
That it requires investments from both private and public players to prove our position internationally.
While the new strategy is an investment into the entire value chain, BioInnovation Institute is focusing on bringing ideas to life and taking research to market. In 2013, the ideamakers behind BioInnovation Institute identified a huge gap when it comes to translating top-level science into new businesses.
A gap that has left Denmark lacking behind some of the world-leading biotech hubs like Boston, Singapore, Silicon Valley, and OxBridge, despite our strong heritage and world-class science that is well-known beyond our national borders.
Since BII’s inauguration in November 2018, we have worked to fill this gap by awarding 35 million euros to 68 high-growth start-up companies and establishing an entrepreneurial environment with support from business professionals.
It has been possible thanks to the financial support of the Novo Nordisk Foundation and our ventures have led to job creation, company creation and more than 100 million euros in investments from national and international venture capitalists.
On this journey, we have been met with nothing but trust from across the ecosystem and it has allowed us to build a solid foundation for life science entrepreneurship.
Today, BioInnovation Institute is established as an independent foundation, but it is only through our continued collaboration in the ecosystem and with support from legislators, that we will be able to make an impact on global health.
As the former CEO of the Novo Nordisk Foundation, Birgitte Nauntofte, put it:
“No contribution or idea is too small, and we welcome any invitation to collaborate for the benefit of people and society.”
CEO, BioInnovation Institute