South Dakota Biotech executive director Joni Ekstrum recently led a delegation to Washington, D.C. to advocate for federal funding for the biotech industry. Ekstrum emphasized the importance of funding for research advancements. The state of South Dakota lacks resources compared to biotech hubs like Boston and San Diego, making federal funding crucial.
The conversation around tariffs has also impacted the biotech industry, with uncertainty around pricing and manufacturing in countries involved with tariffs. Despite this, there is a focus on building international relationships, as seen with a recent trade mission to Japan and Taiwan.
At the state level, South Dakota is working to position itself as a hub for biotech. Initiatives like the USD Discovery District and the South Dakota 2030 Science and Technology Plan aim to develop research and commercialization activities. South Dakota State University’s efforts to become an R1 research institution show progress towards making biotech an economic driver in the state.
Talent development is key, but infrastructure and regulatory requirements are also crucial in attracting biotech companies to South Dakota. Access to land, energy, transportation, and water are critical factors for companies to see the state as a sustainable and scalable business environment.
Overall, South Dakota Biotech is pushing for increased federal funding and state initiatives to support the growth of the biotech industry in the state, positioning it as a competitive player in the biotech landscape.
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