The effectiveness of biotechnology policies in Europe

The present study investigates what policy mixes are the most effective in fostering biotechnology innovations. An input-output approach has been used with a mix of biotechnology policy instruments at the input side and biotechnology performance in science and commercialisation at the output side. Policy mixes that include both generic and biotech-specific policy instruments which support both the science base and commercialisation activities correlate with higher performance levels. Countries that ascribe limited importance to the creation of generic and biotech-specific instruments for the stimulation of biotechnology also perform more weakly. Only generic research stimulating instruments in place is less effective; biotech-specific instruments seem to be more beneficial. All highly performing countries in commercialisation had both generic and biotech-specific instruments in place. The overall conclusion is that a well-balanced mix of generic and biotech-specific measures seems to be superior.