Partnering is crucial to the life science industry
Life Science Life science is a pioneer industry when it comes to networking and collaboration.
The most efficient way is to meet in real life, making connections that can create value for businesses. It was almost 25 years ago when the first partnering conference was organized for the US and the European life science industries. At that time there were few, or none, meeting points supporting life science companies on doing business together. Business meant following the traditional way of prospecting and marketing, but without an organized place to meet. This conference took place in Europe and its purpose was to connect the two markets together.
– Life science really is a pioneer industry when it comes to networking and collaboration, says Olivier Duchamp, Director General of NLSDays, adding:
– I would even say the word partnering was invented at that time, when different stakeholders in the life science industry were put together during two or three days, having face-to-face meetings. It became almost a revolution and ever since, these kinds of events have been popping up all over the world. Other industries are following the same step as well.
Oliver Duchamp has followed the development of the industry from a close range during the last 15+ years, arranging international life science conferences in Europe. Conferences and other meeting points are a crucial part of the life science ecosystem nowadays, he says.
Ever since that first meeting in Europe, the business of life science has changed, due to collaboration, networking and partnering. After being focused on drug development it is now also embracing the development of new devices and technologies and the digitalization of data. The main trend is the conversion between different parts of the industry, changing companies’business models.
"Everything is getting more and more integrated"
– Everything is getting more and more integrated and the industry has to collaborate even more. The most efficient way has become to meet in real life, making connections that can create value for your business. Even small research companies can reach the market in a more efficient way, says Olivier Duchamp.
The Nordics attractive
From the North American and Asian perspectives, the Nordics are on top of the life science technology development and seen as the place to invest. Denmark, Finland, Norway and Sweden all have the right structure when it comes to government and equal health care systems, as well as patient data management.
"Luckily many large, international companies, governments and risk capitalist do."
According to the Global Competitiveness Index 2015-2016 ranking by World Economic Forum, Sweden ranks 2nd per capita in the world when it comes to R&D investments and has just the right innovative climate to foster new ideas and start-ups. But the best way to meet with Swedish companies is to go Sweden. Luckily many large, international companies, governments and risk capitalist do. Since a few years ago life science conferences are also held in the Nordics, attracting a large international interest, and supported by governments and life science organizations.
Great potential in the Nordics
Looking at Sweden and the Nordics, there is however still a great potential when it comes to networking. Olivier Duchamp joined the Swedish national life science industry organization SwedenBIO’s effort five years ago starting Nordic Life Science Days with a clear aim: to make it possible for small Nordic companies to be visible for a global audience. NLSDays has since grown to be a leading international partnering event with a focus on Nordic life science.
"During the last years the number of attendees has doubled."
– During the last years the number of attendees has doubled. International and national players both see it as a unique chance to meet with other stakeholders, creating business together. However, in relation to the number of life science companies and organizations in the Nordics, it could be even better, says Oliver Duchamp.