DTI recognition for Bioscience York as 'incubator' gets go-ahead
Posted on 3 February 1997
Bioscience York and Analytica UK Ltd were awarded one of only six 'definition' awards from the DTI which will enable them to develop a detailed business plan for the setting up of a 'bioincubator'. Bioscience York and Analytica will work in partnership. The bioincubator will be located at the Innovation Centre on York Science Park, which will make available the sophisticated infrastructure needed for biotechnology businesses to develop technically. Analytica will provide the funding to which those businesses will have access, together with management and other professional expertise to enable them to develop as businesses.
Business incubation is a relatively new concept in Britain. It is a process designed to provide small companies with the facilities to ensure growth and success. York's bioincubator will provide business coaching, specialist premises and expert advice on research and development related to the biosciences.
It is yet another boost to Bioscience York, the private/public sector collaboration led by the University of York and the City of York Council, which represents over 1,500 bioscientists in the York area.
"Biotechnology to most investors means high risk," says John Sykes of Analytica. "The typical biotechnology business experience is of 'black hole' funding and 'blue sky' research projects, together with a lack of close and knowledgeable management. Analytica can bridge those gaps."
The Innovation Centre is itself a home to small start-up companies, and its proximity to some of the country's leading science departments on the University campus will be a distinct advantage to the biotechnology companies of the future.
"There couldn't be a better place for bioscience start-up companies than York," said Professor Tony Robards, Pro-Vice-Chancellor at the University of York. "Bioscience York has already created a world-wide network and put York on the map as a bioscience centre. The strongly developed partnerships with Nestle, Smith and Nephew and the major divisions of MAFF, further demonstrates the region's ability to lead the way in this field."
Ian Taylor, the Science and Technology Minister said of the awards: "It can only be beneficial for budding young biotechnology companies to learn from the business experience of more established companies. The advantage of specialist coaching, advice and facilities can prove invaluable. The support given by this incubator will provide a mechanism and support for transforming that science into dynamic, high-tech companies."