Knowledge-based economy ensures life sciences funding
(EU) framework, which focuses on creating a knowledge-based economy
to ensure increased funding for this industry.
The need for a more conducive climate for high-enabling technologies like comparative genomics and proteomics is important as they represent the strategic motor for furthering economic development in Europe.
In addition, budgetary increments along with supportive research policies will be a major driver in propelling life sciences research forward and help create a knowledge-based economy by 2010.
The EC under its framework 6 programme (FP6) has set a strategic thematic priority for life sciences as well as with biotechnology and health.
Under the scheme, the average spending on life sciences (including fundamental research and application of genomics to combat diseases) in 2003 was worth about € 761 million, and accounted for 67.4 per cent of the total European life sciences funding expenditure for that year.
In continuance with the positive upturn in funding, this sector is expected to account for about 73.1 per cent of the total funding in 2005.
The overall estimated budget that has been indicated on the life science roadmap under the FP6 will be worth € 2,264 million during the period 2003-2006.
The total public life sciences funding for the three geographies considered in the research study (United Kingdom, France and Germany) for 2005 has been estimated to be around € 5794 million.
While in the United Kingdom genomics, proteomics, and systems biology initiatives are the main thematic priorities in the current life sciences budget, disease genomics is garnering a major volume of the total genomic funding in Germany.
In France, public research bodies carry out most of the research in collaboration with universities and other institutes and the concept of genopole and genhomme networks have been a great interface to bring together small and medium sized enterprises (SMEs).
According to the report, published by Frost and Sullivan, particular attention has been paid to augmenting the funding volume for small and medium enterprises in order to enhance knowledge transfer partnerships.
As Europe strives to achieve global competency in the areas of life science, these initiatives could prove instrumental in building a competitive, knowledge-based economy in the near future.
"A major trend in life sciences funding is the interface of cross-council programmes that are adding a new dimension to biological sciences through a multitude of contributions from various councils and charities towards proteomics and post-genomics," Charanya Ramachandran, Frost & Sullivan's healthcare analyst.
"Major funding bodies including the EC have allotted adequate portions towards research intensive areas and governments are constantly working to enhance technical innovation and bring in more university-business collaborations," he added.
In addressing the fragmentation in European life sciences research funding, there is a clear strategy being devised towards incorporating a European Research Council (ERC).
Although this organisation will truly be pan-European, it may not seem overly attractive to some regional governments as it may bring in the need to adopt several complementary approaches and also result in projects being accorded a non-essential priority at the national level.
However, respondent feedback suggests that the ERC should be able to channel funds more efficiently into new fast developing research areas.
The report reckoned that this would help provide a new component of funding based purely on competition between leading researchers and their teams, thereby complementing the efforts of national research councils (NRCs) and regional research funding institutions.