TLDR:
- Synthetic biology could develop into a $30 billion industry, creating 50,000 jobs.
- The sector has received over $363 million in capital over the past three years.
Synthetic biology, also known as “synbio,” is on track to become a $30 billion industry, creating more than 50,000 jobs within 16 years, according to a new report by CSIRO and Main Sequence. The sector has seen significant investment, with startups receiving over $363 million in capital over the past three years. The report highlights the potential for synthetic biology to have transformative benefits across various sectors, from food production to environmental sustainability. The focus on research and development in this field is leading to innovations in areas such as medicine and agriculture. Governments and venture capital funds are supporting the growth of the synthetic biology ecosystem, aiming to drive positive changes in global challenges. International collaboration and skills development are key areas for further improvement to strengthen the industry’s impact and reach.
