The principal of Dundee University has called for major government investment in life sciences to make the city a “bedrock of the Scottish economy for the next century”.
Professor Iain Gillespie called on ministers to recognise the “unique competitive advantage” of the institution’s biomedical science base.
He believes the strength of local partners such as Abertay University and the James Hutton Institute means Dundee is the only Scottish location with its level of combined expertise in life sciences, digital and AI technology.
A major role
Professor Gillespie wants this knowledge to be used to develop infrastructure that could play a major role in the Scottish economy for decades to come.
He said: “Getting Scotland’s innovation infrastructure right is a vital plank of the Scottish Government’s innovation strategy, and we’re clear that needs to start here if we’re serious about wanting to position Scotland as a world-leading biomedical powerhouse.”
Dundee is the top university in the UK for biological sciences and has been named the world’s most influential pharmaceuticals research institution, above the likes of MIT, Berkeley, Oxford and Cambridge.
Leaders of the city’s key institutions welcome the publication of the Scottish Government’s new innovation strategy on Friday.
It includes a pledge to work closely with universities to develop a £100 million Scottish Innovation Fund to invest in early-stage companies focused on science and technology.
Professor Gillespie said: “In 2021 alone, our spinout Exscientia floated on the US NASDAQ exchange with a valuation that exceeded $3 billion, while Amphista Therapeutics has raised investment of more than £40 million and concluded major contracts with global pharmaceutical companies worth up to $2.3 billion.
“However, both these companies have now relocated completely or substantially to the South East of England.
“This is a phenomenon that we need to change.”
‘We must invest in growth’
Dundee’s new innovation district will offer greater opportunities for collaboration and growth but additional investment would help to capitalise on the city’s competitive advantage over other locations.
Council leader John Alexander insisted that to tackle “a period of significant economic challenge, exacerbated by global events, we must invest in success and growth”.
He said: “Dundee could not be better placed to play a key role in the delivery of the Scottish Government’s new innovation strategy.
“We need to build on areas where we already have a competitive advantage, and that is certainly true of biomedical science.
“Our city’s academic research and development is world-leading, and we have had great success in attracting significant venture capital into new companies.
“In Dundee, additional investment will allow us to make even greater inroads towards achieving our shared vision for strong, creative, smart and sustainable city economy with jobs and opportunities for all.”
Conversation