The London-Stansted-Cambridge Consortium today launched a major report showcasing the life science and healthcare sector in this, the largest cluster outside the US.
Overall there are 37 world class life sciences research institutes in the London-Stansted-Cambridge region, 1,400 life science businesses, accounting for 43,200 jobs and 19.6% of all national (England) employment in this sector.
This sector is the third largest contributor to economic growth in the UK, with more than 4,000 companies, accounting for 165,000 jobs. The global pharmaceuticals, biotechnology and life science industry generated total revenues in excess of $1.1 trillion in turnover in 2011, representing an annual growth rate of 6.7 per cent between 2007 and 2011.
This report maps out the scale and key features of the life science and healthcare sector in this vital corridor. It explains why this area has this global strengthand considers the future challenges for the sector and how we will keep ahead in this globalmarket place.
Greg Clark, Chair of the London Stansted Cambridge Consortium stated
"It is hard to over-emphasis the growing strength in life sciences in this corridor, with AstraZeneca’s global HQ moving to Cambridge and the £700m investment in the Francis Crick Institute at Kings Cross. Importantly locations such as Harlow’s Enterprise Zone have the potential to play a central role in supporting the on-going growth of this globally acknowledged and developing cluster."
Julian Huppert MP, MP for Cambridge, research scientist and secretary of the London-Stansted-Cambridge All Party Group stated
"Cambridge is already one of the most successful life-science clusters in the world. Seen in the wider context of the London - Cambridge Corridor this report shows that we have the largest cluster outside of the USA and it is going from strength to strength. But we need investment into our infrastructure to support the growing population and economy of Cambridge and the rest of the corridor." Harriet Fear, Chief Executive, One Nucleus, the international life science membership organisation is delighted to support the report"
One Nucleus is working closely with the LSCC on this important report and the wider initiative to align the aspirations and opportunities of the London-Cambridge Corridor and market its strengths to the world. Co-ordination and de-duplication of effort are vital and we look forward to continuing to play our part in a tangible way.
Andrew Bramidge, Director, Harlow Enterprise Zone stated;
"Harlow Enterprise Zone welcomes the publication of this report. This is a major contribution to our understanding of an important and rapidly growing sector in our region. Harlow Enterprise Zone will be providing space focussed on the Life Sciences sector, spearheaded by Anglia Ruskin University's Med Tech Campus, and it is vital that we understand the sector's issues, challenges and requirements. This report does that and we look forward to working with our partners to deliver growth and jobs in Life Sciences at the heart of the London Stansted Cambridge Corridor."
Karen Spencer, Principal, Harlow College stated;
"Ensuring we have the right skills for business and economic growth is critical. As this report shows not only do we have some of the brightest brains in the world based in the corridor, we also have a network of Further Education Colleges, University Technical Colleges and Universities working to ensure that we have the expertise required by industry. This is critical for inclusive growth, ensuring communities and particularly young people, have the skills to access an increasingly mobile and high-knowledge economy."