What can Massachusetts do to keep their edge in the biopharmaceutical industry?

Mass Bio and Health Advances released the Impact 20/20 report earlier this year detailing how they believe Massachusetts could best keep their edge in innovation and technology in the innovation sector.  The report concluded that Massachusetts should bring value to the industry by bringing value to the health care industry and having a meaningful impact on patients lives.

They outlined the following four things to ensure the success of their industry:

1. 1. Demonstrating Value 
2. 2. Supporting Company Formation and Sustainability
3. 3. Opportunities in Life Sciences Information Technology
4. 4. Articulating the Patient Focus

The report also addresses the question of value of the Massachussetts healthcare cluster now that health care has changed with the implementation of Obamacare. Value created should be measured according to patients and what they receive - be an amplifier for the needs of each patient and figure out how to benefit them. The state needs to continue to work on ensuring a vibrant start up environment - have funding for innovative companies and affordable work space for them to conduct their research.

Read the full report here.

Peter Abair, Director of Economic Development & Global Affairs, MassBio and Sheela Hegde, Partner, Health Advances will be joining us in the BioProcess International Theater this October to dive in-depth on their findings and suggestions for the Massachusetts biotech sector.  We invite you to join us in the Innovation Theater on Wednesday, October 22 and Thursday, October 23.  Special rates are available for the Exhibit Hall.  Visit the pricing webpage to find out more and register.

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