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Life Sciences Funding in Europe 2005 (Phase I) - Sources of Funding
Frost & Sullivan, Sep 2005
Investment in Fundamental Research is Crucial to Developing Commercially Feasible Medical Applications
In the face of ongoing advances in medical applications, a significant challenge facing European Union (EU) research policy is the need to build an improved scientific base through investments in life sciences and biotechnology. In order to identify appropriate therapeutic and diagnostic methods (theranostics), detailed investigations have to be carried out in an orderly way at both the cellular and organ system levels. While advanced medical applications such as comparative genomics and proteomics can provide lucrative financial returns, there is a need to ensure a conducive environment for refining these technologies. Hence, framework programmes (FPs) have to cater to both basic and applied research and companies need realize that fundamental research is the precursor to setting the groundwork for commercialising any application.
This Frost & Sullivan research service analyses the life sciences funding in Europe. The study lists the key trends in the funding of life sciences and has been segmented based on the perspectives from the European Commission and funding organizations in the United Kingdom, Germany and France.
Greater Emphasis on Translating Technologies into Meaningful Clinical Applications
While evolving technologies have been revolutionising the biological science domain, the European Commission, in tandem with other research councils, are focusing their attention on specialised research themes that have the potential to bring sound economic returns. Ongoing projects have been devised in such a way that the research and technological developments help in gaining sufficient knowledge on enhancing product development. Molecular disease-based approaches appear to have greater theranostics value and with their ability to compliment traditional medicine, the emphasis is strictly on converting such technologies into meaningful clinical applications.
Further, in working towards building knowledge-based competitive economy and tackling the current fragmentation of funding among different organizations, projects that integrate basic and applied research are gaining priority. Integrated projects are expected to bring together the necessary critical mass of activities, expertise and resources to achieve objective-driven research, says the analyst of this research. On the other hand, specific targeted research projects (STREPs) are primarily objective-driven mono-disciplinary research and their objectives are less ambitious than the integrated projects, thereby requiring a lower critical mass.
Despite Initial Challenges Life Sciences Funding set to Witness Positive Growth
Along with the emphasis on linking science with innovation, the availability of a strong engineering and science base, skilled workforce and a freely available research database have helped create a rationale for increased government funding for life sciences. Hence, with the continued effort towards making Europe the most influential scientific foundation at the international level, there is expected to be a healthy surge in funding for life sciences from the private sector as well as public research foundations. Further, the strategy towards building a pan European organization such as the European research council (ERC) is expected to offer a positive stimulus for many national research-funding agencies.
One of the prime challenges hindering the augmentation of basic life sciences research is the need for investment in public sector research, says the analyst. However, budgetary increments, along with supportive research policies, are likely to be a major driver in propelling life sciences research forward and in helping create a knowledge-based economy by 2010.
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