Abstract
The Singapore Government has identified biotechnology as one of the four pillars of the economy for the twenty‐first century. For the last forty years, Singapore has pursued a very successful economic growth strategy of attracting investment from leading multinationals through a combination of financial incentives, world‐class infrastructure, a highly literate workforce and a business‐friendly regulatory environment. In the biotechnology industry worldwide, however, the typical development pattern has been very different: new start‐up companies backed by venture capitalists clustered around leading research universities. This article examines the development of the biotechnology cluster in Singapore, showing how a modified version of Singapore's traditional growth model is co‐existing with a more typical biotechnology development pattern.
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