Abstract
When compared to many other industries, the biotech industry is in its infancy. Yet, within a relatively short span of time, it has grown from a handful of companies to well over 10,000 worldwide with an estimated 1,000,000 employees working in this industry. Many local governments and municipalities have implemented incentive programs to encourage biotechnology cluster development within their region—but all have not been successful. Biotechnology industry expansion is disproportionate to geography, having little correlation to the number of incentives these regions offer. Biotechnology growth and expansion is concentrated in “hubs” or “clusters” each possessing a mix of certain elements. There are at least five essential elements universal to all biotechnology clusters, and these are vital to the successful establishment of new biotechnology hubs in any region. In this chapter, I describe these elements and discuss some enhancers of growth and expansion for biotechnology clusters. Through concerted efforts from both public and private entities, and careful monitoring to ensure these five essential elements are present, a thriving biotechnology cluster can emerge in any geography. Biotechnology clusters remain a tremendous source of benefit to any locale, their greater region, and, through its products, to the world.
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