Construction work is complete on MediCity Scotland, a new £2.4m medical technology incubation facility at Biocity Scotland.
A total of 11,000 sq ft of office space and incubation workspace has been constructed through the refurbishment of a vacant building at the BioCity Scotland campus in Newhouse, North Lanarkshire.
The MediCity facility is expected to support up to 50 new medtech businesses and create 150 jobs over the next five years, developing links between the commercial and academic communities and showcasing Scotland to inward investment opportunities in this growing field.
Dr Diane Harbison, Managing Director at BioCity Scotland, said: “I am really looking forward to the forthcoming launch of MediCity Scotland later this month. MediCity will follow a similar clustering model to the one already successfully in action here at BioCity, bringing together entrepreneurs, clinicians, developers, innovators and investors in a supportive environment which will facilitate and accelerate medtech opportunities.
“One of the benefits of clustering similar businesses together is that it leads to a higher survival rate – for example, businesses at BioCity Nottingham have a 91% survival rate, which is fantastic.”
Councillor Jim McCabe, Leader of North Lanarkshire Council, said: “As part of our ongoing success in supporting new businesses and creating jobs locally, North Lanarkshire Council is delighted to be contributing to the revenue funding of this exciting venture with funding of £439,000.”
“MediCity will act as a focal point to encourage more medical-related enterprise to North Lanarkshire, and help to build up a centre of excellence.
“This is the first of a number of projects in North Lanarkshire supported by City Deal, which is a unique and exciting opportunity to invest significantly in public infrastructure, delivering real benefits for the economy and jobs now and in the long term.”
The Glasgow and Clyde Valley City Deal is an agreement between the UK Government, the Scottish Government and the eight local authorities across Glasgow and Clyde Valley.
Photograph shows Council Leader Jim McCabe with Dr Diane Harbison