In a survey conducted by the Department of Science and Technology (DST) in 2007, it was found that the annual turnover of core biotech and biotech active companies amounted to approximately R1, 3 billion, a growth of about 13% since the last survey in 2004. Across both the surveys commissioned by the DST, areas identified to be limiting and where support was required included regulatory approval, availability of skilled human resources, intellectual property management, international marketing and fund raising.
BioSA was formed as a result of the realization that biotech and life science SMMEs occupy a niche which has very specific needs, many of which are not catered for in current structures.
The association is a membership driven body that represents SMMEs in the biotech and life science industries. A decision to form BioSA was taken at the Bio2Biz meeting in Cape Town in 2007. A total of 32 Founding Members were present at the founding meeting of BioSA. The present Management Team of BioSA was elected at the Bio2Biz Meeting in Cape Town in 2007. The operations of BioSA will be guided by its Mandate and Constitution.