Life sciences cluster increases its global muscle
The London-Stansted-Cambridge Consortium has launched a major report showcasing the life science and healthcare sector in this, the largest cluster outside the US.
Overall there are 37 world class life sciences research institutes in the London-Stansted-Cambridge region, 1,400 life science businesses, accounting for 43,200 jobs and 19.6 per cent of all national (England) employment in this sector. This sector is the third largest contributor to economic growth in the UK, with more than 4,000 companies, accounting for 165,000 jobs.
The global pharmaceuticals, biotechnology and life science industry generated total revenues in excess of $1.1 trillion in turnover in 2011, representing an annual growth rate of 6.7 per cent between 2007 and 2011. This report maps out the scale and key features of the life science and healthcare sector n this vital corridor. It explains why this area has this global strength and considers the future challenges for the sector and how we will keep ahead in this global marketplace.
Greg Clark, Chair of the London-Stansted-Cambridge Consortium stated: “It is hard to over-emphasis the growing strength in life sciences in this corridor, with AstraZeneca’s global HQ moving to Cambridge and the £700m investment in the Francis Crick Institute at Kings Cross.
“Importantly locations such as Harlow’s Enterprise Zone have the potential to play a central role in supporting the on-going growth of this globally acknowledged and developing cluster.”
Julian Huppert, MP for Cambridge, research scientist and secretary of the London-Stansted-Cambridge All Party Group added: “Cambridge is already one of the most successful life-science clusters in the world. Seen in the wider context of the London-Cambridge Corridor this report shows that we have the largest cluster outside of the US and it is going from strength to strength.
“But we need investment into our infrastructure to support the growing population and economy of Cambridge and the rest of the corridor.”
One Nucleus is working closely with the LSCC on this important report and the wider initiative to align the aspirations and opportunities of the London-Cambridge Corridor and market its strengths to the world, CEO Harriet Fear explained.
“Co-ordination and de-duplication of effort are vital and we look forward to continuing to play our part in a tangible way.”
The full report can be found at www.lscc.co
• PHOTOGRAPH SHOWS: Dr Julian Huppert