Biotech: Still clustered after all these years

Biotech: Still clustered after all these years

Three leading centers—San Francisco, Boston and San Diego—still account for almost two-thirds of all biotech venture capital after a quarter century.   In innovative, knowledge-based industries, there are huge competitive advantages to being located in a cluster of firms, workers, financiers and researchers.  The evidence shows that leadership in biotechnology has been locked in to a handful of leading locations, and their dominance persists, de…