The University of Dundee’s Life Sciences Innovation Hub today hosted the launch of a major new Scottish Government strategy.
Business Minister Richard Lochhead MSP visited the Innovation Hub to launch the new Life Sciences Strategy for Scotland, with targeted investment and actions to turn the sector into a £25 billion industry by 2035.
As part of a package being rolled out this year to drive the country’s high-growth, high-innovation industries, the 10-year refreshed Strategy will outline a framework to bring economic growth, transform health and care and stimulate innovation.
Dundee has been the UK’s top ranked university for Biological Sciences in the past two Research Excellent Framework exercises. Over the past year, Dundee was also crowned the UK’s Outstanding Entrepreneurial University of the Year (Times Higher Education Awards) and Innovative & Entrepreneurial University of the Year (European Triple E Awards).
Professor Sir Mike Ferguson, Interim Co-Dean of the University’s School of Life Sciences, said, “I am delighted that the Life Sciences Strategy for Scotland 2035 is being launched in the University of Dundee Life Sciences Innovation Hub. As one of Scotland's newest assets for the advancement and commercialisation of Life Sciences, it is a fitting venue for this important event.
“I congratulate the Scottish Government and the Industry Leadership Group, chaired by Mark Cook, for putting together this strategy and vision. It is inclusive of the full breadth of Life Sciences in Scotland and forward-thinking as to how to leverage the sector for the benefit of the whole nation.”
The Life Sciences Innovation Hub was supported by a £20.2 million Scottish Government investment through the Tay Cities Region Deal as well as by Scottish Enterprise, the Wolfson Foundation, Garfield Weston Foundation, UK Government (through the UK Shared Prosperity Fund) and the University of Dundee.
Life sciences around £10.5 billion in turnover to Scotland’s economy, supporting more than 46,000 jobs. It covers human, animal and plant sciences including pharmaceuticals, health tech, agritech and animal health, aquaculture and industrial biotechnology and bio-based manufacturing.
Mr Lochhead said, “In the past five years, the life sciences sector has shaped our response to a global pandemic, responded to new opportunities in personalised medicine, health technology and medical devices, and played its part in meeting the Scottish Government’s net zero commitments.
“Scotland is rich in talent and already the destination of choice for many global businesses, investors, researchers and innovative health and care professionals.
“Our Strategy will build on these strengths and outline actions to harness the power of the triple helix – industry, academia and the public sector – to collaborate and grow life sciences, using new technologies such as Artificial Intelligence.”
The Strategy can be seen at https://www.lifesciencesscotland.com/life-sciences-strategy-for-scotland.