26th March 2012

Oxford Innovation to boost Welsh Lifescience

By Kerry Tailor Smith, Laboratory News, 23 March 2012

The Welsh Government has appointed Oxford Innovation to deliver the High Potential Starts programme, which will assist start-up and early stage life sciences firms with high growth potential to grow more rapidly over the next three years.

Oxford Innovation’s team of advisors and coaches based across Wales will work with entrepreneurs forming new companies and management teams of early stage businesses to create new high value added businesses and help early stage firms expand into major companies. This will generate sustainable local employment and cement the position of Wales’ burgeoning life sciences industry.

Support will be available for firms in the biosciences, medical devices and diagnostics fields, and associated supply chains technologies such as electronics, engineering, advanced material science and logistics.

“Oxford Innovation is delighted to have the opportunity to work with entrepreneurs and growing life sciences firms across Wales,” said Dr Treve Willis, programme director and joint managing director of Innovation Services at Oxford Innovation.

“We want to build on Wales’ strengths in life sciences and work closely with local and regional partners, as well as creating linkages for the exciting companies here with contacts and networks elsewhere. Our ambition is that the new programme should provide a significant boost to the growth prospects for many companies that are crucial to the growth of the Welsh economy.”

The life sciences industry in Wales continues to grow and it’s estimated that it contributed £1.3 billion to the economy – employing over 15,000 people in more than 300 companies.

“This programme represents a significant investment in the development of business potential and will support our most dynamic businesses and entrepreneurs to help them grow and prosper, creating high quality jobs and boosting the economy,” said Wales Business Minister Edwina Hart.