Barometer launched to measure health and life sciences sector
Square One Law, in partnership with the Centre for Process Innovation (CPI), has launched a comprehensive survey to gain critical insight into the sector.
The review is designed to take a "temperature check" of the businesses operating within the innovative and fast-evolving field, providing a snapshot of the challenges, opportunities, and success stories arising from the findings.
As well as providing an overview of potential growth opportunities, the results will also be used to help the region’s businesses lobby for the support and legislative changes required to help unleash their potential and enable them to continue innovating and competing on the global stage.
The health and life sciences industry is one of the region's most dynamic sectors, with businesses spanning biotechnology, pharmaceuticals, healthcare services and medical devices. By participating in the survey, firms will contribute to a valuable data pool, enabling the creation of a detailed report that will support future conversations with key stakeholders and promote the region’s many success stories.
Helen Brain, head of commercial law at Square One Law, said: “As someone with a background in biological sciences and through my work with numerous businesses operating in health and life sciences, I am delighted that we are leading on this initiative alongside CPI.
“Over recent years, we’ve witnessed some remarkable start-ups spin out of our universities and incubators who have gone on to showcase and sell their innovations the world-over, as well as seeing some of our fastest-growing scale-ups secure millions of pounds in private funding.
“However, despite this incredible success, there are still many challenges which lie ahead – as well as bountiful opportunities to grow – which is why surveys such as this are so important, helping us to recognise the real issues and opportunities facing our businesses, while championing the sector’s successes and ensuring they have the support mechanisms and legislation in place to continue innovating and growing as we look to forge an even healthier future for the industry.”
Dr Alex Cole, director of market strategy at CPI, added: "At CPI, we are passionate about helping organisations in the health and life sciences sector to innovate and grow.
“By teaming up with Square One Law for this survey, it will give us an invaluable insight into what companies need to succeed, from navigating regulatory challenges to capitalising on emerging opportunities.
“It’s an important step in ensuring the North East continues to be an innovator in this sector and so we’d encourage any business operating in the sector to have their say and complete the survey. It only takes a moment but could have a major impact."
If you are a business operating in the North East’s health and life sciences sector, please complete the survey [here] and make your voice heard.
