Some $4.5 billion to be invested to build ‘Biotechnology Valley’

ISTANBUL

A total of $4.5 billion of investment is planned to establish a “Biotechnology Valley” in Istanbul’s Tuzla district, announces Ercan Varlıbaş, the president of the Biotechnology Industrialists’ Association (BIYOSAD).

The Biotechnology Valley, spawning on an area of 2.7 million square meters, is set to become one of Türkiye’s largest investments in science and technology and is designed to be one of the world's leading biotechnology ecosystems.

It will include the Biotechnology Specialized Organized Industrial Zone (BİOSB), a technology development zone, R&D centers, a technology transfer office, testing and calibration laboratories, patent offices and educational institutions, such as a high school and vocational school focused on biotechnology.

Speaking at a press conference to unveil the details of the project, Varlıbaş stated that the Biotechnology Valley will become the largest biotechnology cluster in Europe and Asia, adding that it will house 160 companies and provide 20,000 jobs.

The Biotechnology Valley, which is expected to generate $15 billion in annual exports, will also help reduce Türkiye’s biotechnology imports by enabling the production of import-substituting products, he noted.

“While Türkiye ranks 20th globally in terms of the size of the economy, its biotechnology ranking stands at 48th, showing that the country has yet to achieve a level of development in biotechnology that matches its broader economic standing,” Varlıbaş said.

“Our goal is to position Türkiye among the world's top 10 most developed countries the field of biotechnology,” he furthered.

Varlıbaş stated that the Biotechnology Valley will bring together major industrial companies and startups operating in the biotechnology sector.

Startups will benefit from the R&D center, technology transfer office, testing and calibration laboratories, and patent offices provided by the valley, while also having the opportunity to collaborate with entrepreneurs working in the biotechnology field, he said.

Varlıbaş stated that they aim to provide various incubation centers and support mechanisms for startups.

As part of their collaboration with the Industry and Technology Ministry and the Health Ministry, they have also engaged in talks in South Korea, Boston, and Taiwan, he added.

The number of enterprises engaged in biotechnology-related activities increased from 499 in 2020 to 687 in 2023, according to the latest data from the Turkish Statistical Institute (TÜİK).

Those biotech companies collectively spent 2.49 billion Turkish Liras in R&D in 2023, up from 446 million in 2020.