The critical challenges

Industry and Government must act now to secure a successful future for UK bioscience. Most of the responsibility for achieving the vision lies with industry. Companies need to choose the best technologies to focus on, pursue viable business strategies, and manage investors' expectations. Building the large, profitable companies of the BIGT vision relies on some of today's leading companies achieving profitable growth. In short, industry needs to deliver.

At the same time, Government can accelerate the sector's development through constructive intervention. A steady, dependable Government policy is essential in the bioscience sector, as the German experience demonstrates. In 1996, the German government launched an aggressive programme of matching venture capital funding with the aim of creating - almost out of nothing - the leading biotech sector in the world by 2000. With many of the fundamentals, such as experienced talent and investors lacking, this proliferation of 'soft money' has spurred the hasty creation of far too many companies that lack viable business plans. The BIGT favours a more considered approach.

German Bioscience companies (1999-2000) (13)

The BIGT vision can be realised if the following critical challenges are addressed. Acting in partnership, UK industry, academia, and Government should:

• Build mutually advantageous collaboration between the NHS and industry for patient benefit.
• Create a public and regulatory environment supportive of innovation.
• Ensure sufficient and appropriate funding is available to fund the long and costly process of technology and drug development at all stages.
• Build a strong bioprocessing sub-sector within UK bioscience to act as an enabler to bioscience innovation, and to anchor the bioscience sector.
• Develop, attract, and retain a high quality scientific and managerial talent base with appropriate technological expertise.
• Create the Bioscience Leadership Council to oversee implementation and continue the sector-wide dialogues.