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Industry association says Sweden ought to capitalize more on life science innovation

Sweden must become better at leveraging its life science innovation and research to halt foreign investors from taking advantage of the value created in the country, says IML, a Swedish life science organization.

Photo: Jens Dresling/Ritzau Scanpix

While Sweden’s life science industry is a good innovator, producing a huge amount of research, it needs to improve when it comes to turning knowledge into action, says Johan Järte, managing director of Swedish life science association IML, as reported by national media Biostock.

”Vinnova [Swedish innovation agency, -ed.] could for example create a financing fund. Denmark has a system with a lot of funds, which is clever because innovation is kept in the country. Sweden is a good innovator but it is often a foreign investor that ends up making money off of it instead of Sweden capitalizing on the innovation that we have financially supported through taxes,” Järte says.

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