A project to grow the Tay Cities Biomedical Cluster of world-class life sciences companies will generate hundreds of millions of pounds for the local economy and strengthen Scotland’s reputation as a centre of excellence, according to new economic analysis.
The proposed Tay Cities Biomedical Cluster, led by the University of Dundee in partnership with NHS Tayside, has been earmarked for £25million in initial funding from the Scottish Government through the Tay Cities Deal.
The project builds on Dundee’s world-renowned reputation for life sciences research, drug discovery and medical devices.
Central to the project is an Innovation Hub close to the University’s School of Life Sciences at Dundee Technopole. This will house new high-growth Life Sciences companies, as well as providing high quality employment for the local workforce. In addition, a state of the art medical device research and development facility will be developed in the School of Medicine and NHS Tayside.
A recently completed economic analysis forecasts that the local economy will benefit in excess of £175million with 250 new jobs by 2033.
Honorary consultant radiologist Professor Graeme Houston, who leads the medical devices research and is Director of the Biomedical Cluster, said, “This investment offers excellent facilities for translation of research from scientists and NHS clinicians to develop new treatments for patients.”
The Tay Cities Deal is a partnership between local, Scottish and UK governments and the private, academic and voluntary sectors which seeks to create a smarter and fairer Angus, Dundee, Fife and Perth & Kinross.