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HE@Cam seminar: The Cambridge Bioscience Impact Study

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Although the importance of the Bioscience sector to the Cambridge economy is widely recognised there is very little up to-date research that shows the size of the economic impact that it is making and how this has been changing. This is unfortunate because in these times of austerity continued research funding cannot be taken for granted and the sector has to demonstrate in a robust manner its impact on the growth of Cambridge, the wider region and the nation as a whole.

To identify the economic impact of the Cambridge Bioscience sector is challenging and requires a robust conceptual framework that identifies the diverse and complex interactions that exist between individuals, companies, universities and government and which occur across different geographies. The complexity suggests that it is best to begin by developing a broad conceptual framework and modelling approach and undertake some baseline cross-sectional research. It is with this that this study has been concerned.

The research has considered; a) the factors driving the growth of the bioscience cluster in Cambridge and how it may develop in the future, b) the competitiveness of the Cambridge Bioscience cluster relative to elsewhere and the factors that give it a competitive edge (the more unique the Cambridge offer the more likely the economic benefits it produces contribute to national growth) and c) the constraints on the growth and development of the cluster and the actions that might help to overcome them.

This talk is part of the Health Economics @ Cambridge series.

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