VIB and the Flanders Life Science Cluster

The Vlaams Instituut voor Biotechnologie (VIB), the Flanders Institute for Biotechnology, and the wider innovation system that it is part of, is a case study for how to build a globally significant life sciences cluster. Any region or country that aspires to develop a life sciences cluster should learn the lessons from what has worked in Flanders.

An independent study conducted by BiGGAR Economics shows that VIB remains a key driver of the life sciences innovation ecosystem in Flanders, Belgium and beyond. The study highlights VIB’s substantial economic and societal contributions, strengthening the region’s position as an important leader in life sciences.

In 2023 alone, VIB contributed nearly €1 billion in Gross Value Added (GVA) to the Flemish economy, supporting more than 11,000 jobs. For every €1 of core funding from the Flemish Government, VIB returned €12 in economic impact. This success is driven by VIB’s strength to translate world-class scientific research into products and technologies that benefit patients, industry and society.

Over the past decade, VIB’s economic footprint in Flanders has grown significantly – from €548 million GVA in 2013 to €994 million GVA in 2023. The figure below illustrates this steady growth in economic output.

“VIB’s commitment to research excellence and innovation continues to deliver substantial returns for our society,” says Rik Audenaert, Chief Financial Officer at VIB. “Despite global challenges, VIB has proven to be a resilient engine of sustainable growth for the biotech sector. The Flemish government’s strong backing of scientific research remains vital to this sustained success.”

Beyond economic performance, VIB has a profound societal impact – advancing healthcare through innovative treatments and diagnostics for diseases with high unmet medical needs, and contributing to sustainable agriculture by developing bio-based alternatives to fertilizers and pesticides, as well as enabling protein crop cultivation in Europe. These breakthroughs improve wellbeing and environmental sustainability both in Flanders and globally.

Graeme Blackett, Director at BiGGAR Economics, commented: “VIB clearly understands that achieving its dual mission – scientific excellence and economic impact – depends on the strength of the innovation ecosystem it operates in. Without all parts functioning effectively, the system as a whole cannot deliver. What makes VIB stand out is its ability to translate this understanding into action, generating significant societal benefits, from advancing healthcare and improving wellbeing, to driving sustainable innovations in agriculture. These benefits extend beyond Flanders, creating value for society and the environment globally.”

For more details on VIB see https://investors.vib.be/