- July 22, 2014
- Posted by: Mark Drakeford AM
- Category: Cardiff West News
The launch of the Life Sciences Wales Hub marks a key milestone in the drive to accelerate the growth of the sector, increase its contribution to the economy by more than £1billion annually, creating jobs and attracting inward investment.
The Hub – based in the heart of Cardiff Bay – is the latest initiative by the Welsh Government to support this key sector which is already benefiting from the £100m Wales Life Sciences Investment Fund and the £50million Ser Cymru strategy.
Economy Minister Edwina Hart said:
“The Hub will be the central resource for the entire sector throughout Wales providing an unparalleled level of co-ordinated support, advice and finance. It will be a centre for collaboration, innovation and investment – by business, by academia, by clinicians – and is backed by the Welsh Government and the sector itself.
“ The rewards for success in life sciences are huge – delivering dual benefits in terms of health and wealth. The Sector Panel is confident that our approach will deliver significant business growth and obvious economic benefits for the whole of Wales and I concur.
“Swift progress has been made on implementing recommendations in both our science and sector panel strategies. We are delivering for Wales, we have a collective ambition, a shared vision and a strong strategy to build on what is already a vibrant and dynamic sector in Wales.”
The Hub has four clear goals:
•To connect and concentrate the Life Sciences sector in Wales
•To attract new Life Sciences opportunities and investment
•To nurture and accelerate the growth of Life Sciences businesses in Wales
•To create economic growth, wealth and new jobs
It will be the focus for collaboration and interaction, attracting inward investment, supporting start-ups, expanding existing businesses and promoting the sector globally.
Global companies like Johnson & Johnson Innovation and GE Healthcare have already signed up as Hub members alongside NHS Wales, Arthurian Life Sciences which manages the Wales Life Sciences Investment Fund, Finance Wales and BBI Healthcare. Professional services are represented by Geldards (lawyers), Withers and Rogers (Intellectual Property attorneys) and Broomfield Alexander (professional advisors).
Managed by the Life Sciences Wales Hub Ltd led by Chief Operating Officer Dr Ian Barwick, it will be supported by a strong Board, chaired by Prof. Chris McGuigan, providing expertise and strategic direction and advice.
Professor Chris McGuigan, said:
“Wales has excellent credentials in the Life Sciences with world leading companies, internationally renowned excellence in research in our Universities and hundreds of highly innovative SMEs. The Life Sciences Hub is the catalyst for growth, supporting Life Sciences innovation and cutting edge research in Wales. If you are in Life Sciences and in Wales you need to be in the Hub.”
The Hub at 3 Assembly Square will provide access to the Welsh Government’s Life Sciences team, representatives of the Wales Life Sciences Investment Fund, with professional services, patent agents and technology transfer specialists.
Facilities at the Hub include high-quality meeting space with wifi access, accommodation for hosting events and training, video conferencing and a media room.