The life science sector in Poland is in its infancy, but more and more innovative companies dealing with research on new drugs and biotechnology are emerging. Some of them are internationally successful and attract foreign investors, because the funds are increasingly eager to see life science projects in their portfolios. Poland has many advantages, such as qualified staff and research facilities to become one of the leaders in this sector.
- The two most important trends in the area of life science at the moment are biotechnological innovations, i.e. new products based on biochemistry and medicine, and digital innovations that enable effective patient management throughout the entire cycle of medical care, from prevention to after-hospital care - says Jerzy Kalinowski, partner in KPMG consulting company, Newseria Biznes.
Life science combines fields such as medicine, pharmacy, diagnostics, cosmetology and telemedicine with IT and new technology solutions. This industry is developing rapidly all over the world, but in Poland it has been crawling for several years. However, according to PAIiIZ, referring to FDI Intelligence data, already in 2010 Poland was ranked 5th in the global ranking of investment projects in the biotechnology sector.
Investors and funds are increasingly looking for life science projects, seeing them as an opportunity for long-term capital investment. Currently, the NewConnect market lists several innovative companies from the field of biotechnology, whose capitalization is counted in tens of millions of zlotys, and some of them go out to foreign markets and attract large investors. Maciej Maniecki, an entrepreneur, manager and investor in several start-up companies, including projects such as Medical Inventi and Bioinnova, stresses that the rapidly growing life science industry is an alternative for investors to IT projects that the market has already saturated with.
- The greatest global potential is in projects related to medicine and biotechnology, and partly also in IT and electronics. However, new ideas related to IT and new technologies are appearing all over the world so much that the market is saturated, increasingly difficult. Therefore, biotechnology and medical projects are now closer to success - says Maciej Maniecki.
Investors emphasize that it takes even several years for the development of the life science sector and market success of companies from this area, as this is how much research work usually takes to develop new drugs, vaccines, laboratory tests, certification and the process of patenting innovative solutions. However, Poland has all the necessary assets to become one of the leaders of the biotechnology sector in the coming years.
- More and more doctors, scientists and biotechnology specialists are thinking about setting up their own companies where they can implement their innovative ideas and commercialize them. They expect the satisfaction of having done something that will benefit society and the bonus of making money from their work. These are the projects that venture capital funds are currently looking for - says Jerzy Kalinowski from KPMG consulting company.
From the Deloitte study "Biotechnology in Poland. The 'industry point of view' shows that the biggest problem in the development of this market is access to capital. This was indicated by more than 57% of representatives of companies from this industry. Legal regulations, including tax regulations, were indicated as the second barrier.
- In Poland, there are also start-ups related to digital health, which use digital tools and mobile applications, for example, to help in the rehabilitation of people after a stroke - says Jerzy Kalinowski.
- From my portfolio I can mention projects such as those in the field of Vitagenum genetics or Skakanka, which promotes knowledge on improving intellectual and cognitive skills among children and young people. Polish scientists have really innovative ideas, but we have to learn how to commercialize them and move them into business. Such projects can effectively compete even with large corporations with a strong market position - adds Maciej Maniecki.Source: biznes.newseria.pl