Not too far from Edinburgh city centre, an exciting health industry innovation district is taking shape that will secure big benefits for Scotland’s economy and provide major opportunities for investors.
The city’s BioQuarter initiative is at the heart of health innovation and it’s tipped to be worth around £140m a year to the Scottish economy within the next 10 years.
That’s impressive – and it’s also expected to eventually employ 13,000 people and help support the growth of around 200 health technology firms.
The public sector-led programme also includes major stakeholders NHS Lothian, which has its two acute hospitals based on site.
The 167-acre site is already home to health innovation businesses based at innovation centre NINE – including Malvern Panalytical LifeArc, RoslinCT, Fios Genomics and CALCIVIS – along with the Edinburgh Medical School, many of the University of Edinburgh’s medical research institutes and the 900-bed Edinburgh Royal Infirmary.
It also includes the new home of the Usher Institute for data-driven health and social care innovation, which is set to open in 2023.
And the good news for potential investors is that there are 64 acres on the site that are available for development.
The search for a Joint Venture partner for the site is already well underway and at the time the JV procurement process was launched Scottish Government Minister for Business, Trade, Tourism and Enterprise, Ivan McKee said:
“This is a once in a lifetime opportunity and one of the most exciting investment and collaborative opportunities with far-reaching benefits for investors, local communities and global health innovators alike. It shows that Scotland is very much open for business.
“A private sector partner will help deliver a globally significant health innovation community of researchers, academics and clinicians and will continue to foster entrepreneurship, supporting as many as 200 new companies.”
The outcome of the search for a JV partner is set to be announced in Summer 2023 with the first spades in the ground of the next round of development expected in Summer 2024.
X
Linkedin