Startup Genome and LaunchVic recently released the 2021 Global Startup Ecosystem Report (GSER): Life Sciences Edition.
The GSER is the world’s most comprehensive and widely-read research on startups with 280 entrepreneurial innovation ecosystems and 3 million startups analyzed.
The Life Sciences Edition dives deep into the globally competitive landscape of technology-based startups focused on diagnosing, treating, and managing diseases and conditions.
This includes startups in Biotechnology, Pharmaceuticals, and Medtech—which is also referred to as medical devices.
Within the report, Life Sciences ecosystems all over the world are ranked based on many factors including funding, performance, and founder knowledge.
The number one ecosystem for Life Sciences is Silicon Valley, followed by Boston, New York City, London, and San Diego.
North America and Europe dominate the Top 25 Life Sciences ecosystems, with 48% and 24% of the Top 25 respectively, followed by Asia at 20%, and MENA and Oceania with one ecosystem each in the Top 25.
The Report findings are driven by a data focused approach, with a specific interest on funding and unicorn creation.
In fact, there are now 108 Life Sciences unicorns globally, with 34 companies achieving unicorn status in the first half of 2021 alone.
Also, 49% of the Life Sciences unicorns between 2015-2020 were created in the Top 5 ecosystems.
The research also shows that Series A investment in Life Sciences crossed $10 billion in 2020 and the average deal size for a Series A investment in Life Sciences is over $15 million.
Additionally, the total amount of Series B+ investment in 2020 in Life Sciences startups was over $18 billion, nearly double the global amount in 2019.
The average deal amount for Series B+ investment in Life Sciences is four times higher than it was 10 years ago.
In 2020, global Life Sciences exits totalled $96 billion, which is double the value in 2019.
“Since 2012, our research has provided rich insights and guidance to public and private leaders on how to cultivate thriving startup ecosystems and support local startups — the #1 engine of job creation and economic growth,” shares Marc Penzel, Founder & President of Startup Genome.
“The 2021 Global Startup Ecosystem Report (GSER): Life Sciences Edition sheds light specifically on a fast-growing sub-sector with an incredible trajectory. S
tartup ecosystems with a density in talent, funding, programs and academics in Life Sciences should be focused on building on these strengths and creating policies for Life Sciences founders to thrive.”
The Report includes a special focus on the burgeoning Life Sciences Ecosystem in Melbourne, Australia.
On a regional level, Melbourne-based companies received over 60% of Life Sciences investment in Oceania.
Melbourne, with three exits over $50 million dollars, created nearly 100 new Life Sciences startups in the last 10 years, 17% of which were created in 2017.
Also, over70% of the deals in the Life Sciences sector in the large Oceania tech hubs are made in Melbourne, accounting for about 88% of the amount invested.
LaunchVic CEO Dr. Kate Cornick shares that the sector’s exponential growth was enabled by a rich medical research and educational landscape.
“Melbourne as a destination has some big global advantages, including rapid clinical trials, excellent product service development, an impressive engineering workforce and our proximity to Asia in terms of customer base,”
Dr Cornick said. “With strong foundations, it’s critical the state now translates discoveries in our labs into commercialised startups that can improve global health and boost the state economy.
The sector is a major driver of jobs, with Victorian Healthtech companies adding new jobs 55% faster than the already-over performing healthcare sector (+9.7% growth) in 2020.”
You can view the full report here.
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