Minnesota Bioscience Community Seeks Collaboration Opportunities with Japan

Strategic Insights -

The Minnesota bioscience community is set to collaborate with Japanese pharmaceutical and medical device companies at the "BioSymposium" on March 23, 2020, at the University of Minnesota in Minneapolis. Over 100 Minnesota executives are expected to attend, aiming to learn about potential collaboration opportunities with their Japanese counterparts. This event is a testament to the growing relationship between Japan and the Minnesota bioscience community, building on last year's Japan-Midwest Biotechnology Summit in Chicago.

Key Takeaways:

  • Over 200 Minnesota companies export regularly to Japan, with the state's bioscience industry being one of the primary sectors benefiting from this relationship.
  • In 2002, Minnesota's exports to Japan reached approximately $790 million, a 15% increase over 1999.
  • Japan is the second-largest biotechnology market in the world, with a strong presence of cutting-edge bioscience research.
  • The Minnesota Trade Office's Japan Market Program identifies Japan's medical device market as one of the "best prospects" for Minnesota companies.
  • The event is designed to support Governor Tim Pawlenty's Biosciences Initiative to make Minnesota a world leader in the biosciences industry.
  • The symposium will bring together top executives from leading Japanese bioscience and medical device companies, including Takeda Pharmaceuticals, Fujisawa Healthcare, and ABX Diagnostics.
  • The event is the first step in facilitating collaborative relationships between Minnesota companies and their Japanese counterparts.
  • JETRO's KAMBI program (KANTO-Midwest Biotechnology Initiative) aims to promote biotechnology cooperation between the Midwest and Japan, with a mission to Tokyo scheduled for September 25-October 1, 2004.

Statistics:

  • Over 200 Minnesota companies export regularly to Japan.
  • In 2002, Minnesota's exports to Japan reached approximately $790 million, a 15% increase over 1999.
  • Japan is the second-largest biotechnology market in the world.
  • The event is expected to bring together over 100 Minnesota executives and top Japanese executives from leading bioscience companies.

Sources:

  • Minnesota Trade Office, "Japan Market Program," 2002.
  • JETRO Chicago, "KAMBI Program," 2020.
  • PRNewswire, "Minnesota Bioscience Community Seeks Collaboration Opportunities with Japan," March 18, 2020.
  • United States Census Bureau, "State Exports Data," 2002.
  • Governor Tim Pawlenty's Biosciences Initiative, "Minnesota Biosciences Industry Report," 2020.