Biomedical Engineering Reference
In-Depth Information
1.2.1 Similarities
The similarities between stem cell science and biotechnology emerge
from the nature of the activities undertaken. In addition to the level
of investment required and the availability of exit strategies for
venture capital, the biotechnology industry is heavily dependent on
the quality and availability of post-school educated employees.
Biotechnology companies need highly trained personnel capable of
initiative and conducting research, personnel able to perform
laboratory work and individuals with legal, business and other
skills. At minimum most workers in the biotechnology sector would
be expected to have some kind of post-school training, with a higher
percentage of workers in this sector having postgraduate training
than in most other fields of employment (OECD, 2011).
Opportunities for post-school training are heavily influenced by
affordability and availability of options. Investment in the tertiary
education sector can therefore strongly influence the shape of the
workforce in future years. While postgraduate and postdoctoral
training opportunities in the stem cell sciences have been rapidly
expanding globally, there have been some fears that the high degree
of community uncertainty about using human embryos in research
would act as a deterrent for researchers thinking about entering this
field (Webb and Pain, 2006). In countries where tertiary education
is heavily reliant on government funding, policy strategies designed
to increase the numbers of people in science- and technology-oriented
training courses have also become increasingly important.
Governments in India, China, Canada, Australia and Singapore
have explicitly incorporated a need for increased growth in the
research and development workforce in recent policy platforms. In
India and China, lucrative incentives are offered to overseas trained
professionals in order to try and encourage them either to return
home after qualification or to stay in their country of birth rather
than seeking better career options overseas (Salter et al., 2006; Salter
et al., 2007). Such incentives might include higher than average
salaries and other package benefits such as cars, health insurance,
private education for children and subsidized housing. Alternatively,
in Singapore, the government has constructed state-of-the-art
