Guest post by Arturo Covarrubias, President of Asembio A. G. and Lawyer and Managing Partner, Covarrubias & Silva Intellectual Property
Chile has been called a “natural lab,” underlining one of its main features as the perfect setting for the development of biotechnology. Chile is a privileged country in terms of its wide range of weather, flora and fauna, number of species and biological assets, natural advantages that are reinforced with human capital, productive diversification, a solid economy and institutional stability.
This is why the Association of Biotechnological Companies, “Asembio,” works to support this sector and to achieve international leadership. The mission is to elevate awareness of Chilean biotech industry and the nation of Chile as an ideal research and development and strategic partner for international biotech and pharmaceutical companies. That mission comes with the support of ProChile and ChileBiotech, the country’s business cluster of biotechnological companies.
Currently, biotechnology in Chile encompasses a wide variety of areas, from agriculture, stockbreeding, fishing and forestry, reaching from human health to industrial biotechnology. Most of the research done in the sector is focused on providing support to exportation industries such as aquaculture, mining, agriculture, and the forest sector.
Chile is betting on biotechnology, supported by an excellent regulatory framework and good financial incentives. The sector thinks that in order to move forward in this path it is important to reinforce the bridge between biotechnological progress and different alternatives of funding.
One of the goals is to improve the financial environment so that private companies with risk capital can see in biotechnology a mature sector where objectives, timelines and the associated costs of development are perfectly clear and precise, so that it can be seen as a trustworthy area for investment.
This way the organization works through outreach to create awareness that the biotechnical industry is essential for the development of the country, and makes sure this task is shared by the companies, as well as the different public and private figures of the country.
An important step forward in this challenge is the organization of Latin America’s biggest biotechnology fair and one of the most renowned worldwide, BIOLATAM 2015, which will take place in Chile for the first time, November 16–17, in Santiago. Asembio is organizing the event, in partnership with ASEBIO from Spain and EBD Group: a great challenge that will undoubtedly reinforce the path already walked and bring good news for the future.