Image courtesy Scottish Enterprise
The money will help companies spun out of the university to move to the BioQuarter campus. It is hoped the commercialisation strategy will help increase commercial activity at the university’s College of Medicine and Veterinary Medicine, generating new spin-outs, supporting an expansion of clinical trials, and helping companies in the campus to forge links with biotech and pharmaceutical companies.
Companies that are formed as a result of the strategy will also have access to business and equity support from Scottish Enterprise. Jack Perry, chief executive of Scottish Enterprise, said, “Edinburgh BioQuarter is one of our flagship projects and despite the economic downturn, still offers huge potential to transform Scotland’s economy.”
The campus is based next to the new Royal Infirmary of Edinburgh and the university’s Medical School and Queen’s Medical Research Institute. The first building to be built on the science campus is the Scottish Centre for Regenerative Medicine, which is due for completion in 2010.
“As well as providing space for large international life science firms to locate alongside the University of Edinburgh and NHS Lothian’s Royal Infirmary of Edinburgh, we want Edinburgh BioQuarter to be a hub for indigenous life sciences businesses,” said Perry.
Scottish Enterprise and the university are currently recruiting a programme director to spearhead the strategy and hope to generate interest from life sciences experts across the world.
Receive the Funding Newswire each Tuesday, our Policy Bulletin each Thursday, and news about bridging Europe’s east-west innovation gap twice a month in The Widening. 
A unique international forum for public research organisations and companies to connect their external engagement with strategic interests around their R&D system.