A global network of big pharma backed innovation centres
Big pharma have also been keeping a watchful eye on the start-up sector and some have decided to take it a step further by setting up their own incubators. Johnson & Johnson (J&J) have set up a global network of open innovation centres (JLABS) focusing on pharmaceuticals, medical devices and the consumer and health tech sectors. Astrazeneca run their own incubator (Boston BioHub), Bayer have set up one in Berlin, Merck have Accelerators in Germany and China. It will be interesting to see whether this model of supporting biotech start-ups will reap dividends for big pharma.
The budding entrepreneur will need to decide the merits of joining a big pharma backed bio-incubator or one of the many independent ones. However, one thing is certain, there has never been a better time for would be bio-entrepreneurs to get started.