Italy Sees Hike in Biotech R&D Investments

The Italian Trade Agency (ITA), amongst others, at Bio Digital 2021 have made a claim that Italy offers an attractive life sciences hotspot thanks to their robust research and innovation ecosystem. The claim is based on evidence from the strong and dynamic synergies between universities, research centres, startups, and large companies.

They cited a report by consultants, The European House – Ambrosetti, which showed that between 2013 and 2019, pharma R&D investments in Italy increased by 31%, higher than the European average of 24%. These investments also reached a value of €1.6B during this time.

According to the BioInItaly 2020 report from Assobiotec, some 49% of the over 700 biotech companies based in Italy are involved in healthcare. Over 50 new startups active in the biotech field were registered between 2017 and 2019. 

The report shows that rare disease and advanced therapy medicinal products (AMTPs) are top performing areas of research in Italian biotech research. Beyond this, nearly 80% of Italy’s biotech companies are micro or small-sized organisations, showing that small businesses and organisations are blazing the trail for innovation.

Who We Are:

Research and development is the engine of economic growth in an increasingly knowledge-based global economy, however more investment is needed to help boost human creativity, innovation and economic output. 

Swanson Reed is one of Italy’s largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

To find out more about R&D or to determine the eligibility of your business for receiving an R&D tax credit, contact a Swanson Reed R&D Tax Advisor today.

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