A regional centre of health technology excellence will be developed in the city following a successful bid submitted to the Heart of the South West LEP by Plymouth Science Park, in partnership with the University of Plymouth, Plymouth City Council, and private sector partner, Renishaw.
Building on existing capabilities in the region, the Health Technology Innovation Hub (HTIH) will enable the creation of 107 new jobs and support 119 businesses.
The facility, which is set to be completed by March 2025, will deliver a regional centre of excellence to incubate health technology businesses and accelerate new health technology developments in the wider healthcare sector.
Located at Plymouth Science Park, the funding will see existing office space at the Park refurbished, as well as the creation of new state-of-the-art facilities for early-stage laboratory-based businesses, including laboratory space, single-user incubation laboratories, clean rooms, and specialist 3D printing facilities for rapid prototyping in a range of materials, including plastics and surgical grade metals.
These advanced facilities will provide local healthcare and technology businesses with access to integrated health research and innovation, which will provide new, sustainable solutions to some of the healthcare challenges of the 21st century, and support significant economic growth potential for the region.
Fay Davies, business development manager at Plymouth Science Park, said: “We are so excited to be working with our partners to develop a Health Technology Innovation Hub at Plymouth Science Park. The project will support the development and success of health-tech businesses based in the South West and provide employment opportunities.”
The HTIH will create a nationally leading health technology asset that will drive sustainable economic growth, create new, high value jobs, improve health outcomes, support inward investment into the region, and use the latest technology as a driver towards a low carbon economy.
Karl Tucker, chair of Heart of the South West LEP, said: “This new Health Technology Innovation Hub will create a regional centre of excellence, which will accelerate the development and deployment of health technologies across the South West.
“We are delighted to have agreed just over £1 million from the HotSW LEP’s Getting Building Fund towards the creation of the facility. The fund aims to support ready-to-go projects that will contribute to our area’s post-Covid recovery, and this new hub will enable the creation of 107 new jobs and support over 100 businesses.”
The HTIH benefits from significant private sector investment, primarily through collaboration with Renishaw.
Renishaw is one of the world’s leading engineering and scientific technology companies, with expertise in medical and dental manufacturing. Renishaw will invest in the HTIH to support the establishment of a Heart of the South West facility to serve the peninsula.
To find out more about Health Technology Innovation Hub visit: https://heartofswlep.co.uk/projects/gb21-health-tech-incubation-hub-plymouth/
To find out more about Plymouth Science Park visit: https://www.plymouthsciencepark.com/