15 Nov Five years on at BioCity, Glagow
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Nov 15, 2019
Five years ago we took on the former Merck R&D facility in Newhouse, located between Glasgow and Edinburgh on the M8.
Over the last few years, we have supported more than fifty new business opportunities through our Accelerator programme that is funded by Scottish Enterprise and North Lanarkshire Council through the Glasgow City Region Deal.Eleven of these opportunities have gone on to raise a total of £11.8m in private sector funding.
Collectively, these companies have created 111 new jobs across Scotland in the health, life sciences and medtech sector. Meanwhile, companies based at our incubator have raised a further £12m in venture capital.
Now, twenty-eight start-up and growing companies choose to call BioCity and MediCity, Glasgow home, employing over 300 people which is more than the number made redundant by Merck on site closure.
In the beginning, we were seen as ‘selling space in the wrong place’ and when we received our first utilities bills we knew we were taking a risk. But hard work and perseverance paid off and since then we have proved a lot of people wrong.
The work, of course, isn’t done (it never is) but now, five years on is a good time to say well done and thank you to all involved. Well done to the team who helped us build it, thank you to the companies that trusted us and moved to the site and thank you to everyone who has contributed to making BioCity and MediCity in Scotland the success it is today.
We are delighted that these companies call BioCity home:
Roylance Stability Storage
The Antibody Company
TAGS: Accelerator, BioCity, BioCity Glasgow, Incubator, Investment, MediCity