As well as our infrastructure projects, we delivered MediCity through the innovation programme.
What is MediCity?
MediCity is part of the BioCity Group and is located at BioCity at Newhouse. MediCity is a state-of-the-art life science incubator and business collective. It provides the best environment in which MedTech, digital health, healthcare and wellness businesses can launch and grow.
MedTech and health entrepreneurs receive growth support with coaching, investment and high-quality co-working, laboratory and office spaces.
MediCity aims to accelerate the growth of existing and new MedTech companies and close the gap in MedTech development in Scotland to the rest of the UK.
It repeats the example already established in Nottingham which supports higher start-up survival rates. Over 90% of businesses at BioCity Nottingham have survived.
Where is MediCity?
MediCity is in a prime location to attract and generate new business within the Euro Central Business Park.
It is located immediately off the £500 million upgraded M8 motorway, joining Edinburgh and Glasgow.
How was MediCity funded?
The development of the incubator was completed following over £1m investment through UK Department of Business Innovation Skills funding, North Lanarkshire Council and BioCity Group.
It was completed as part of the £18 million Glasgow and Clyde Valley City Deal. We along with Scottish Enterprise also supported the project through a contribution of £1.1 million.
What was provided?
The MediCity project refurbished a vacant building next to the existing BioCity site to create 11,000 sq ft of office, lab and co-working space.
What where our targets?
The five-year MediCity project was targeted to accelerate the creation of around 50 new businesses and 150 jobs, while generating private investment of £5.6 million.
Support provided at MediCity
Flexible, flexible labs and write-up spaces with just one month's notice with the option to scale up when the time is right.
MediCity offers a blank canvas and the endless possibilities growing companies need, including custom fit-outs, uninterruptible power sources and air handling systems.
A full calendar of industry events, accelerator workshops and monthly coffee and cake ‘get-togethers’ keeps companies in touch with each other and the wider industry.
A specifically designed café, break-out, meeting and co-working spaces are available to encourage collaboration between businesses.
The team available within BioCity has extensive experience in raising investment for life science companies and is on hand to assist the MediCity companies to secure investment funding as part of their strategic development.
Access to specialist advisory skills from life science industry experts to provide support to companies on a case-by-case basis.
The accelerator programme
After working with Alex Osterwalder, the creator of the Lean Methodology, BioCity took the principles of Lean Start-up and applied a framework of commercial science to create evidence-based entrepreneurship specific to those wanting to turn their science into business.
BioCity runs accelerators throughout the year across locations, in partnerships with other organisations, such as AHSNs and on behalf of other incubators, including Newcastle Biosphere and Aberdeen One.
Entrepreneurs who successfully secure a place on the BioCity Accelerator work closely with expert coaches in an intensive eight-week programme specifically designed to help scientific entrepreneurs launch and grow sustainable businesses from their science.
The accelerator programme already has some notable successes with a number of participants being recognised in the Converge Challenge Awards:
- Novosound - winners of the main prize
- ClinSpecDx - runners up in the main prize
- Headspace Design - Entrepreneurial Spirit award
14 November 2018 - Company opens first Scottish facility at MediCity - State-of-the-art pharmaceutical storage facility has opened.