The BIO International Convention’s organizers counted roughly 16,000 guests and 35,700 partnering meetings this year – a new record. The Austrian joint stand, which has been offering domestic companies a well-established and popular presentation platform, also saw a lot of heavy traffic. As in previous years, the joint stand used the Life Science Austria (LISA) flag in close cooperation with the international brand of the Austrian Federal Economic Chamber. LISAvienna assisted Viennese companies on site and used the event to discover current trends via the lecture programme, raised awareness about Viennese companies and research institutions at the exhibition stand and in partnering, and answered questions about Vienna as a prime place for international companies.
Unlike previous years, LISAvienna could not determine hot topics and revolutionizing technologies for the future. Instead, using known potential and putting it into practice seemed to be the main focus at BIO. In addition to drug development, there was a lot of emphasis on the interface between the laboratory and IT as well as on diagnostics, especially in conjunction with personalized medicine. In order to successfully bring products to the market, a lot of problem-solving expertise is required to solve the details associated with execution. However, this does not necessarily mean that there is a need for visionaries that develop entirely new concepts for the future. Rather, there is a clear need for teams of experts that are able to develop marketable products from existing ideas. One significant aspect in this regard is familiarizing oneself with the mechanisms and networks of the global health economy and, based on this, develop tailor-made finance and marketing strategies and execute them with a lot of negotiating skill.
LISAvienna noted strong interest in local biotech industries in pre-arranged meetings and in spontaneous questions at the stand and at large and smaller evening events. A shift in the focus that has been often observed until now was also noticed: not only were innovative drug developments in demand this time, but also industry-specific laboratory services and the associated products along with new products and services for the diagnostics field. Many exciting business ideas related to this are currently being tested in Vienna and received heavy international interest.
BIO will again take place in California next year, one of the most important biotech centres in the world. Mark 19 to 22 June on your calendar now and remember to register early for BIO 2017 in San Diego. The joint stand sold out exceptionally quickly this year.