How Massachusetts took over America’s Biotech Hub
New York is known for Wall Street, California is known for the Silicon Valley, the greater Boston area and the Bay state, at large, is now ready to cement its place as America’s new Biotech Hub. Genetown’s biotech industry has grown exponentially over the last 40 years, with about 430 companies being stationed there.
The Massachusetts government’s investment in the innovation sector to collaborate between the state’s best schools and hospitals, not to mention the private sector, have indeed paid off. In 2018, the biotech industry received $4.8 billion in venture capital – a more than 500% increase from $900 million in 2012. In addition, Boston has been the top receiver of NIH funds for the past 24 years.
Read more about why Massachusetts is the world’s best biotech hub here: https://fivethirtyeight.com/sponsored/massachusetts-biotech/