Houston ranks second in the nation among emerging life sciences hubs, according to a new report from commercial real estate company CBRE.
Venture capital funding in the industry locally increased 86% over the past year.
The report analyzed several factors, including education infrastructure, recent life sciences employment growth, number and concentration of scientists fueling innovation, quality and quantity of medical institutions and size of funding sources.
“Multiple demographic, scientific and financial factors have propelled life sciences into growing faster than most other industries in the early part of this century, and many U.S. markets are well equipped to facilitate and capitalize on that growth,” said Ian Anderson, CBRE Director of Research and Analysis and primary author of the report. “Those likely to stay at the top of that list, or to rise on it, have an uncommon combination of health institutions and universities, a qualified workforce, a pipeline of industry funding, an ample base of lab space, and a solid technology industry to partner with life sciences companies.”