Endeavor Insight Analyzes the Burgeoning Biotechnology Sector in Buenos Aires

With the continued  support of FOMIN and and the J.P. Morgan Chase Foundation, researchers from Endeavor Insight recently concluded a study analyzing the relationships between founders and companies in Buenos Aires’s biotech sector. Their discovered a densely interconnected sector in which personal and professional relationships drive growth across the industry, creating jobs and catalyzing innovation.

In recent years, Buenos Aires has become internationally renowned for its recent explosion of tech entrepreneurship activity. In recent years, the sector has grown rapidly, drawing envy and admiration from countries across South America and around the world. However, Buenos Aires is also home to another successful entrepreneurship ecosystem, in the biotechnology space.

The growth of Buenos Aires’s biotech sector is especially interesting in light of the failure of other locales to create similar ecosystems. 49 of 50 U.S. states have attempted to launch government programs with the aim of creating a biotech ecosystem from scratch; few of these programs have meaningfully succeeded.

In Buenos Aires, however, the existence of a historically entrenched pharmaceutical industry has nurtured the related industry of biotechnology. Today, the city has a growing biotech ecosystem in which the activities of founders—such as angel investment, serial entrepreneurship, and mentorship—contribute to increasing success. The companies that Endeavor Insight mapped currently employ more than 8,000 people in Buenos Aires. They provide high-quality jobs to these employees, but also contribute to the economy by offering opportunities for support work to lower-skilled workers, and feed the growth of the pharmaceutical sector by continuing to invent and produce new drugs.

Other cities around the world can look to Buenos Aires as an example of how large, high-impact industries can develop as the result of entrepreneurial initiative and interrelationships.

Visit the project website www.mapeoba.com to read the report or click on the link below.

Mapa BA

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