Clusters of Innovation: the case of Medicon Village

Biotech-related SMEs normally require strong investment in their initial stages because of cutting-edge equipment acquisition or high-level scientist salaries. These costs are probably one of the biggest barriers that a novel biotech company encounters.

Picture: Mockup of the Medicon Village (taken from news.cision.com)

In this way, the approach of outsourcing services, equipment or even lab personnel might become an important mechanism that permits many SMEs to overcome these barriers. In Medicon Village, these (and other) solutions seem to produce a real advance in the development of value for people's health and wellbeing. They represent a collaborative community of clinics, researchers, entrepreneurs and even business men in a shared location at Lund, Sweden. That implies not only reduced costs but also a better science with innovative products. The success of Medicon Village has led to extend its concept to international partnerships in other regions like the Sherbrooke Innopole in Canada. Interestingly, these Clusters of Innovation additionally produce a positive effect in the atractiveness of the regions in which they are located. Medicon Valley is a clear example of how a life sciences biotech cluster can help in the development of novel start-ups.

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