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USD 5.7 billion and involves USD 98 000 per job, or EUR 71 500. Clearly, these are simplistic estimates but they are not totally disparate, including, as they do, the salary and social costs of the employees plus a certain value-added. Using information about the global biotechnology industry can provide some insights into the potential of the sector within the EU and the possible proportion of growth and jobs that might be found in the EU. In the absence of clear economic indicators the OECD suggests the use a proxy indicator of market share, the proportion of marine bio patents taken out by stakeholders. Using this approach, on the basis that amongst the major players in marine biotechnology the EU takes out 13% of global patents, the EU Blue Biotechnology sector could sustain 4 800 jobs in 2010 rising to 6 000 by 2018 or in value terms, EUR 364 million rising to EUR 455 million. Key enabling technologies Key enabling technologies (KETs), are technologies which are of strategic importance to the future competitiveness and prosperity of the EU and its Member States. In a 2009 Communication, Preparing for our future: Developing a common strategy for key enabling technologies in the EU, the European Commission identified and highlighted KETs for their potential impact in strengthening Europe's industrial and innovation capacity47. These KETs in most cases are not products themselves, but rather inventions that allow further products to be developed. For example, if a new compound is found in crustaceans living at the bottom of the sea which is particularly potent and becomes the basis of a new medicine to cure a type of cancer, it can save millions and create a huge economic effect. It is this potential that relates to why such importance is placed on this frontline research and promoting biotechnology as well as Blue Biotechnology. Figure 3.3 Uses of KETs KETs Photonics Pharmaceuticals Nanotechnology industrial biotechnology micro/nanoelectronics advanced materials Food uses Cosmetics The importance of the sector is well reflected through the number of recent policy initiatives focusing on Biotechnology as a whole as well as on Blue Biotechnology. The Communication on a 47 European Commission (2009). Preparing for our future: Developing a common strategy for key enabling technologies in the EU. http://ec.europa.eu/enterprise/sectors/ict/files/communication_key_enabling_technologies_en.pdf Study in support of Impact Assessment work on Blue Biotechnology 21

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