Thursday, February 22, 2024
BusinessBoost for Aberdeen BioHub as £2m investment injected into project

Boost for Aberdeen BioHub as £2m investment injected into project

ABERDEEN’S “transformational” life sciences hub has received a boost following a £2m investment from Scottish Enterprise

The £40m project seeks to make the North East the centre of life sciences research, commercialisation and growth. 

This final investment of £2m will support the final fit-out of the building, which is doubling in size, and go towards the development of the incubator space for start-up and spin-out businesses. 

The £40m project is set to open this autumn.

Kate Forbes MSP, Cabinet Secretary for Finance and the Economy, visited the site as the new funding was confirmed. 

Ms Forbes commented: “This additional £2 million investment in BioHub aligns closely with the Scottish Government’s National Strategy for Economic Transformation, highlighting the importance of strong regional economic partnerships, skills and retraining and focused support for new markets.

“The BioHub will support ambitious life sciences businesses to grow, including through the creation of highly skilled jobs in Aberdeen, the North East and more widely. Through the Aberdeen City Region Deal the Scottish Government is contributing £125 million to the area over ten years.

“We want to enable everyone to contribute to, and benefit from, a more prosperous, more productive and more internationally competitive economy.”

Set to open in late autumn, the striking building will host up to 400 scientific entrepreneurs and 40 business tenants at full capacity. 

Acting as the flagship addition to one of Europe’s largest integrated clinical, research and teaching sites for life sciences and medicine at Forresthill Health Campus, BioHub will provide a combination of specialist space and support for the sector. 

Over 40,000 people are employed across Scotland in the growing life sciences sector, which boasts of turnover of £6.6bn, a number that is set to rise to £8bn by 2025.

A spokesperson for Scottish Enterprise said: As Aberdeen transitions to the growth sectors of the future, we are hugely excited to announce this funding and become a key partner in the BioHub. 

“Life sciences as an industry is crucial to the future success of Scotland’s economy and Scottish Enterprise recognises the importance of helping put Scotland at the forefront of the sector.”

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