Report highlights potential for 9,500 new jobs in the life sciences sector by 2030 - BioInnovation Institute

Report highlights potential for 9,500 new jobs in the life sciences sector by 2030

Report highlights potential for 9,500 new jobs in the life sciences sector by 2030

The Danish life sciences sector is in excellent shape. However, there are still many potentials that are yet to be exploited.

Those are the main conclusions in a new report published by Damvad Analytics for BioInnovation Institute (BII) and the Novo Nordisk Foundation. According to the report, there is an opportunity to create an additional 9,500 jobs by 2030 in the Danish life science sector if Denmark improves its ability to translate research at universities into start-up companies.

“The life sciences sector holds tremendous potential and we see a lot of great opportunities to further accelerate the development for the benefit of people and society,” says Jens Nielsen, CEO of BioInnovation Institute.

The report compares the Danish life science cluster with leading international innovation hubs, including Boston, Oxford/Cambridge, Switzerland, and Singapore. Based on the data in the report, Damvad Analytics comes with three core recommendations for unlocking the potential of the Danish life sciences sector.

Firstly, the tech transfer system needs further resources, and a reform process should be initiated to ensure better ownership and incentive structures of the tech transfer offices at the universities. Secondly, the public funding base should be broadened, and Denmark’s national life science strategy should be accompanied by appropriate funding pools for strategic initiatives such as talent development or public funding for R & D projects. Lastly, Damvad recommends that Denmark designs tax benefits that increase incentives for engaging in R & D and attracting and developing talent.

Download the full report here

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