Midlands Engine at Leeds Life Innovation and Investor Showcase

Today [3 March], Midlands Engine Health is pleased to attend the Leeds Life Science Innovation and Investor Showcase. Organised by Northern Health Science Alliance (NHSA) and MedCity, the day-long event welcomes investors who are keen to explore collaboration opportunities with life science innovators from across the country. Other notable attendees include Midlands Innovation Health and the Health Innovation Research Alliance Northern Ireland.

The event will help drive the uptake of innovative technologies and support for the development of solutions for the NHS in partnership with innovative companies.

It also aims to demonstrate the scale and quality of work the members are delivering in partnership with industry to de-risk and develop innovation in health and life sciences, and support investment in early-stage, growth-driven UK life science companies.

Midlands Engine partnership representatives  are attending the event to promote our region’s exceptional strengths in health and life sciences. As demonstrated at last year’s Midlands Engine Health and Life Sciences Symposium, the Midlands’ contribution to the sector is notable, with figures showing:

• The sector generates £26bn for the UK economy each year
• Close to 1,000 MedTech businesses operate in the Midlands – the largest number of MedTech companies in any region in the UK
• Midlands MedTech employs 23,600 people – the second highest UK region for employment
• Alongside major employers, the Midlands is home to a wide range of MedTech-related facilities, research and expertise, including those unique to the UK market.
• MedTech businesses in the Midlands are engaged in a range of innovation activity, in particular early & later stage R&D. On average, 28% of staff time is taken up by R&D
• A record-breaking £4.5 billion of investment was raised by UK biotech companies in 2021
• 69% of Seed Enterprise Investment Scheme and 65% of Enterprise Investment Scheme investments are made in companies registered in London and the South East, leaving a gap between the South and Midland and Northern region

Not only this, but the Midlands has strong Life Sciences supply chains, including manufacturing companies and contract research organisations, resulting in a diverse and adaptive offer to inward investors. From medical technologies to biological sciences, the Midlands offers an extensive support network to businesses both within and moving into the region. This is in addition to specialist sector knowledge and local networks such as the Academic Health Science Networks, Medilink Midlands and Growth Hubs.

Our region also drives the sector internationally, not least because our world-class universities, seven of which have medical schools, promote strong collaboration between academia, industry and health.

Finally, a core strength of the Midlands’ academic excellence and knowledge economy is data-driven healthcare. The region hosts a rapidly-growing cluster of digital health companies (including more digital start-ups than any UK area outside of London), as well as world-leading academic and clinical expertise (including the Centre for BME Health and the Health Data Research UK Midlands Substantive Site).