- March 28, 2024
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The bioscience industry in Florida is on the rise in terms of new companies and venture capital flowing into businesses, according to BioFlorida, an industry trade organization.
Venture funding for the industry in 2012, for example, rose 19% over 2011, to $103.5 million, according to a BioFlorida release. That was the best year for venture capital in the industry since 2007. Plus, the amount of deals rose from 15 in 2011 to 19 in 2012.
The amount of biotech startup companies in the sector is growing, too. BioFlorida reports that tally is up 13.5% since the first quarter of 2012.
The statewide data comes from a University of Florida Sid Martin Biotechnology Incubator report. “The new data is evidence of a strong, innovative and sustainable bioscience business climate here in Florida,” says David Day, assistant vice president of the University of Florida Office of Technology Licensing and the Sid Martin Biotechnology Incubator, in the release. “Not only is Florida experiencing growth in the number of biotechnology businesses, we are also seeing a continued increase in venture capital investments — demonstration of investor confidence in our biotechnology startups and breakthrough research.”