BIO Deutschland Meets Representatives of the CDU/CSU Members of Parliament
In cooperation with the Konrad Adenauer Foundation, BIO Deutschland organised a meeting between biotech companies, representatives of the CDU/CSU members of parliament and staff from ministries, scientific institutes and other lobby groups. More than 20 participants had the opportunity to talk intensively about current conditions in the biotechnology industry. The Bundestag member, Katherina Reiche, who is also a member of the Federal Board of the CDU, opened the session with a presentation on the general conditions faced by innovative biotech small and medium-sized enterprises. In her presentation, she not only emphasised the employment potential of the branch, but also dealt with current topics such as the amendment to the Genetic Engineering and Stem Cell Law. In addition, she raised the topic of the current bottlenecks in start-up and follow-up financing in the biotechnology industry and the effects of the corporate tax reform and the Law on the Modernisation of Conditions for Capital Investments (MoRaKG).
Olaf Wilhelm, a member of the board of BIO Deutschland and CEO of Wilex AG, described his experiences in the foundation and development of a biotechnology company. He made clear what obstacles an innovative company has to face in order to develop a new type of drug and what entrepreneurial risk both founders and investors take in this process.
Marion Jung, Director of the venture capital company EarlyBird GmbH, emphasised in her presentation how the current bottleneck in equity capital financing in Germany has a negative impact on the success factors of the foundation of technology-oriented companies. For instance, in comparison with the USA, where €18.4 billion was raised from venture capital funds, only €0.2 billion was raised in Germany.
Viola Bronsema, Managing Director of BIO Deutschland, underscored the recommendations made by the German Federal Government’s Expert Commission on Research and Innovation. The commission recommends targeted support for small and medium-sized enterprises (SME) in their investments in new technology. The latest corporate tax reform has an inhibiting effect on innovations in important advanced technologies and especially in small and medium-sized enterprises, Viola Bronsema added. She said that this is why the MoRaKG must quickly come into force. This law represents a small but significant step towards the targeted support of innovation development in SMEs.