biotech

Biotech sector wants help from Albany

Jul 5, 2012

Although New York's legislative session wrapped up in June, angling for new public policy hasn't ceased.

Recently, the Business Council of New York State (BCNYS) tried to regain traction for its agenda by re-releasing a report from May.

Syracuse Center of Excellence / coutesy photo

Investments in research take a while to pay dividends.

So says Dr. Karin Pavese, director of innovation at the New York Academy of Sciences.

At a biotechnology symposium in Syracuse Tuesday, Pavese told attendees there's great growth potential in state-backed research. But since the fruits of those investments often take many years to bloom, Pavese says politicians are often hesitant to pony up key funding.

One job created in the innovation work force - like a research position - creates three additional jobs, according to Pavese.

But standing in the way is something called the "valley of death."