Scotland’s life science ecosystem is ready for the next level but we must aim higher

“Over the last decade, Scotland’s life science ecosystem has matured into a force to be reckoned with. But today, there’s a new energy, a belief that our place at the global innovation table is secure and we’re ready to reach to the next level.”

James Sheppard, International Head of Commercial Strategy, Kadans Science Partner

Over the last decade, Scotland’s life science ecosystem has matured into a force to be reckoned with. But today, there’s a new energy, a belief that our place at the global innovation table is secure and we’re ready to reach to the next level.

During my recent visits to Scotland, I have noticed a real shift in narrative from Scottish entrepreneurs over the past six months in particular. Historically, the Golden Triangle and the USA have the biggest pull and while that is still present, the opening statement from a growing number of Scottish entrepreneurs and founders is that they want to build their business in Scotland. Entrepreneurs spinning out of universities in Glasgow, Edinburgh and Dundee, where possible, want to keep their businesses in Scotland. We need to help make that happen as it presents huge opportunities for Scotland.

Worth more than £10bn to the Scottish economy and growing by more than 5% per year, the sector is driving breakthroughs in health tech, digital medicine and biomanufacturing. Our ecosystem of world-class universities, research institutes, spinouts and corporates has made Scotland a recognised European leader in drug discovery and advanced therapies. Homegrown innovations such as RoslinCT, NovaBiotics, Chemify, Trogenix, Resolution Therapeutics and TauRx exemplify the talent and ambition that define Scotland’s life sciences scene.

Big pharma is also taking note. The recent manifesto for Health and Growth from the Association of the British Pharmaceutical Industry (ABPI) Scotland points the way forward for the sector. The push to get Scotland to adopt ‘Once for Scotland’ approvals shows that the global pharma industry is recognising what Scotland can offer. Clinical trials have always been a strong element of the Scottish ecosystem and the industry push to get Scotland to match the 150-day clinical trial setup time will be critical to avoid any loss of this part of the market.

However, things aren’t perfect. Scotland’s biggest gap remains access to growth capital. Many firms can attract international investors, but that often comes with strings, like relocating overseas. Series A funding and nurturing follow on investment would keep innovation, and jobs, here in Scotland. Alongside funding, leadership matters to help businesses navigate challenges and excel to the next level. Scotland is one of the best places in Europe so let’s leverage that to attract global executive talent to call Scotland home.

To give a stable growth for innovation, Scotland also needs to solve its university funding challenges. If we unburden these institutions of anti-growth procurement and legal issues, it will allow for a more nimble sector. It is also key that Governments recognise that these institutions are going to power the next 50+ years of the Scottish economy. So removing barriers now, will lead to future gain.

The final piece in the puzzle is infrastructure. Scotland remains critically undersupplied for high quality commercial lab space which risks stalling progress for both our health and economic outcomes. At Kadans Science Partner, we’re tackling this with new schemes like Health Innovation Hub (HiH) in Glasgow, ensuring the right space is there for the right stage of company growth. This flagship facility is focused on advancing and delivering precision medicine technologies through the R&D stage ahead of commercialisation. It is an ideal environment to support scientific innovation and foster talent. The Life Science Innovation Hub in Dundee is another great example. The strong demand is clear and we’ve witnessed this first hand with Chemify expanding its operations in a move to HiH which represents the largest commercial letting for life sciences in Glasgow so far this year.

Scotland has all the ingredients for global success but we must set our sights higher. With bold public sector leadership, smarter investment and the right infrastructure we can turn our momentum into long-term global impact.

James Sheppard, International Head of Commercial Strategy, Kadans Science Partner