Massachusetts’ continuing success in the biopharmaceutical sector depends on finding new ways to fund startup and early stage research activities, according to a new strategic plan released by the Massachusetts Biotechnology Council (MassBio). The report cites recent data showing that life sciences venture capital has fallen by 50 percent over the past five years and many investors have turned to later stage investments. In place of this model of startup funding, the group recommends engagement with a number of alternative funding channels, including angel groups, foundations, wealthy individuals and crowdfunding services. The report also includes a number of other recommendations to improve the environment for new and growing life sciences firms.