Wales is home to one of the UK’s most well established bioscience clusters - and its expanding fast. With its longstanding reputation for scientific and academic excellence, over 250 companies have chosen Wales as their base with the sector already employing over 15,000 people.
Innovation and technical achievement in biosciences mean that Wales can compete on the world stage. The sector relies on access to leading edge research and development and a highly skilled workforce. In addition, it needs strong infrastructure with high quality suppliers, as well as technical, scientific and financial services. The bioscience cluster in Wales offers an unprecedented opportunity in which to foster new business relationships, collaborations and partnerships.
The Welsh bioscience cluster has trading and academic partnerships with organisations throughout Europe and beyond, where demand for Welsh bioscience expertise and products is set to grow substantially over the next decade.
The continued success of the sector has been built upon the links between renowned academic institutes such as Cardiff University (recently merged with University of Wales College of Medicine - UWCM) and indigenous companies in the sector. In addition, Wales also boasts a strong and stable skills base, purpose built infrastructure and a firm commitment to the sector by the Welsh Assembly Government.
How the Welsh Assembly Government is helping sector development
Sector development is now supported by “Team Wales” (a collaboration of Welsh government agencies and sector bodies working in unison). Team Wales ensures the companies get the connections they need to help their business grow in a sustainable fashion.
In practical terms, what does this mean? Team Wales will have a significant presence at large trade events, such as Medica in Germany. One of the main roles of attending will be to take along Welsh companies to promote their products and services. These events increase trade and export opportunities for companies in the sector and raise awareness of Wales as an inward investment opportunity within Europe.
In addition, sector development is supported through Technium. Technium is a business network that nurtures young technology businesses and provides the relevant knowledge, support and physical facilities to help them succeed. Technium facilities are available across Wales and are positioned to exploit local industry clusters and centres of research excellence.
There is also financial support for business start-ups and SME expansion. Finance Wales (www.financewales.co.uk - opens in new window) exists to help small and medium-sized enterprises in Wales to realise their true potential for innovation and growth.
Finance Wales can improve access not only to funding but also to commercial expertise and have a track record in assisting many businesses and social enterprises in Wales.
