European translation sees more money but fewer start-ups in 2020
Academia remains the primary source of innovation, but industry spinouts rose in number last year
Academia remains the primary source of innovation, but industry spinouts rose in number last year.
Europe enjoyed the global funding bonanza for new biotechs in 2020, but its pace of company creation is slowing, with a 20% drop since 2017. And while academia continued last year to dominate in providing the technology for start-ups, industry’s contribution rose to almost one quarter of the new companies funded.
The trends suggest that Europe has still not solved its translational problem — the discrepancy between the high level of academic research and the region’s ability to convert innovative science into new companies.