For life sciences firms, the linkage between universities and industries is a critical source of new talent and new ideas. Life sciences is a knowledge-intensive industry. Paul Tostevin, Director of World Research at Savills, said: “While US cities dominate, led by Boston cities in China, the UK, Japan, Germany, Switzerland, France, Singapore, Australia and Ireland are all major players.” However, European cities, including Oxford and Cambridge (at numbers 9 and 10 respectively), perform well in the analysis, especially given their comparatively smaller populations and lower VC investment. The new report shows that the United States is the dominant player in the industry, particularly in terms of size and funding volumes and cities in the United States claim the top five spots in the Science Cities rankings, led by Boston. Property agency Savills have ranked the top 20 cities for life sciences, based on their human capital, investment into health and R&D, the flow of funding into the cities, their openness for business, lifestyle indicators, and property costs in each market.
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