Capital Infusion for Czech Biotech
Prague - The Czech Republic will have significant monies available for forwarding the country's biotechnology cluster, announced CzechInvest, the agency of the Ministry of Industry and Trade in June. With Euro348 million earmarked for furthering the business infrastructure, an undisclosed sum will be available to emerging biotechnology companies and research initiatives. Undertakings slated to benefit the biotech sector include the development of science and technology parks, incubators and technology transfer centers, subsidies for industrial applied research projects and support for research and development-driven enterprises. From the total of Euro348 million, Euro261 million will be contributed by the European Union's Structural Funds, and Euro87 million by the Czech government.
“While there is a gap between research and commercialization, we are undertaking measures to address early-stage companies' requirements by making these funds available and seeking global collaborations,” stated Karolina Bockova, Director of US-West Operations, CzechInvest. Additionally, the country provides a progressive legal and patent environment: “The Czech Republic in contrast to other EU member states implemented the EU´s Directive on the legal protection of biotechnological inventions already in 2000, ”explains European patent attorney, Julia Kalmar, Tributum Company.