A bespoke accelerator programme is being launched to catalyse growth in the north-east’s world-class life sciences cluster.
The aim is to support start-ups, spin-outs and fast-growing companies across the region.
Led and funded by private sector economic development body Opportunity North East (One) and delivered in partnership with BioCity Group, the One Life Sciences Accelerator Programme (Olsap) will launch with a boot camp in early December. The next stage involves a 12-week programme, Develop, starting in January.
The boot camp is being held over two-and-a-half days. It is aimed at people looking to develop their own life sciences start-up, or those wishing to stress-test existing products and services.
A One spokesman said: “It is equally suited to those who have a spark of an idea they wish to evaluate, through to fully-formed companies.
“The boot camp aims to help participants develop their product or service concepts and provides a taste of the more intensive 12-week Develop programme.
“Develop will identify gaps in business cases and evaluate areas of risk, help to create a business model that can stand-up to investor scrutiny and steer businesses in the right direction, reducing risk, time and cost.”
One, working in partnership with Aberdeen University, Robert Gordon University, the NHS, Scottish Enterprise and others, wants to build on the region’s existing life sciences asset base.
Its plans for the sector are aimed at accelerating company growth across spin-outs, start-ups and established companies, while also creating an “entrepreneurial cluster environment” to both drive innovation and commercialisation, and attract investment.
One life sciences board chairman Stephen Logan said: “We see the life sciences sector as a key component of our regional economy, which is driven by innovation and ambition.
“Aberdeen has a history of high-quality spin-out companies and our new, bespoke accelerator programme aims to build upon this to catalyse growth in our life sciences sector.
“BioCity is an established leader in this field and we are now bringing their unrivalled expertise to the region to help develop ideas from across the clinical, research and commercial base into commercially viable ventures, and to accelerate the growth trajectory of established businesses.”
He added: “We have a strong and globally recognised life sciences sector in the region, with strengths in biotherapeutics, medtech and nutrition.
“Companies based in Aberdeen have attracted more than £280million of investment in recent years, while the academic research base has secured a further £250million.
“More than 114 life sciences patents have been filed in the region in the past five years.
“Most importantly, we have a unique environment in Foresterhill to foster collaboration between clinicians, researchers and companies.”
BioCity is the largest incubator and accelerator of life science businesses in the UK.
Its participation in Olsap will allow people and companies in the north-east to tap into its network of existing businesses and life science and healthcare experts.
Toby Reid, the firm’s managing director, said: “We see huge potential for the life sciences sector in the north-east to grow and we look forward to playing a part.”
Life sciences are a priority sector for One’s ambition to diversify the north-east economy, with its companies already employing more than 2,500 people and making an annual contribution worth £160million on a gross value added measure.
The region accounts for more than one fifth of employment in Scottish life sciences research and development.
Aberdeen also has one of the highest concentrations of life scientists in the UK outwith Cambridge.
Foresterhill health campus is Europe’s largest integrated medical, research and teaching location, and boasts top-class facilities for clinical, commercial and academic researchers.