Fuelling jobs and home-grown talent
The venture capital and private equity backed Biotech & Healthcare sector is a major employer in Europe, accounting for over a million jobs. Within that, late-stage venture capital backed businesses are an important set, investing in growth and creating new jobs at a faster rate than many other sectors. The effects can be truly transformational. Swiss Idorsia, a developer of drugs for rare conditions, doubled employment to almost 1,200 staff in a period of just five years.
Job creation in European life sciences is a story of home-grown success. These are high-skilled jobs mainly at SMEs in fields such as research, clinical testing and commercial development. They draw talent from leading universities to work in Europe and drive the development new Biotech & Healthcare champions, following in the footsteps of companies like Ablynx, the Belgian pioneer of nanobodies for rare diseases that is now an important division of Sanofi, employing some 450 people at its base in Ghent.
Job creation 2019-20
Employment 2020
56,867
employees worked in Biotech & Healthcare, Venture stage companies
10.2%
of Venture stage total 556,439 workforce
Employment 2020
Biotech & Healthcare sector, Venture stage companies, by size of company
Employment and job creation 2020
Biotech & Healthcare sector, Venture stage companies, by geography
