November 13, 2023
Cape Cod Times recently published an article featuring Avi Seidmann, Professor of Information Systems, discussing how startups in Massachusetts need help to grow their businesses in the life sciences.
Investing strategically and intentionally in Massachusetts’ life sciences sector makes the state a leader. Despite high real estate costs and transportation problems, experts say continued leadership depends on boosting startups over logistical hurdles. Massachusetts’ biomanufacturing workforce grew by 6.3% over the past year, outpacing that of New York and California, according to MassBio 2023 Industry Snapshot.
“We have an ecosystem which has been extremely successful,” says Seidmann, explaining that Massachusetts has been a pioneer in life sciences. Other states, like New York, which also has prestigious hospitals, are investing in biotech startups in order to “mimic” Boston’s success, he notes.
The Massachusetts Life Sciences Center reports that graduate from biotech-related academic programs have increased by over 50% and master’s degrees by 100% over the last ten years. By specializing in sub-segments of biotech and increasing the number of incubators and accelerators in the state, Massachusetts can support startups. The industry as a whole would benefit from improving the state’s transportation infrastructure.