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Medical biotechnology in Flanders
Red biotechnology is a multifaceted field of health-focused life sciences that ensures the creation of innovative diagnostics and therapeutics that adhere to the strictest ethical and scientific guidelines. Closely related are the medtech and pharmaceuticals sectors , which all benefit from and contribute to innovations relevant to red biotechnology. 45% of all life sciences and R&D startups are active in this sector.
Flanders is a concentrated hub of knowledge centers, institutes, corporations and other stakeholders, forming one of the world’s best environments for innovation and R&D in the field of red biotech.
Flanders connects your business with top managers, scientists and technicians in medical biotechnology. In addition to high-quality life sciences education tracks at its five universities, the region also enables access to:
- the MBI Life Sciences & Health academy, an entrepreneurial training course available in both the Netherlands and Flanders;
- life sciences internships at biotechnology SMEs, as part of the OPINNO program;
- the Flanders Training Network Life Sciences (FTNLS) – a joint initiative of Flanders’ universities and the VIB life sciences institute;
- a broad range of training programs at VIB for life sciences researchers that cover emerging research domains and technologies.
Companies with or deciding to set up their activities or headquarters in Flanders can reap the rewards of:
- various government grants and subsidies for transformation, ecological, R&D and growth investments;
- unique tax incentives for various types of business activities and investments;
- a set of employment subsidies to further reduce your salary costs as well as fiscal remuneration advantages;
- a number of funding options to help you get off the ground.
Flanders offers various incentives that are particularly relevant to research-intensive sectors like the medical biotech industry. Examples include:
- investment deduction for R&D – 13.5% of acquisition value/qualifying asset or 20.5% of the depreciated amount;
- exemption of payment of 80% – of the personal income withholding tax of researchers in certain scientific fields;
- innovation income deduction – up to 85% of a firm’s net earnings from innovation is tax exempt.