Midlands Life Sciences industry association Medilink Midlands has announced that it is responsible for securing £77 million investment for life sciences companies in the region. The association has also contributed to the creation of 190 new “high-level” jobs in the midlands, has engaged with 1,700 SMEs and was involved in 47 university collaborations and 34 traineeships for life sciences businesses.
Chief executive Simon Himsworth said: “Understanding and navigating the legislation and funding landscapes to support innovation remains a major challenge for Midlands life sciences companies."
“We are seeing an increase in requests for advice on regulatory support, identified as one of the most recognised barriers by industry, amidst growing calls for support on medtech specific requirements and CE to UKCA marking both of which have implications on import/export products, European Authorised Representatives, and the challenges of clean growth, and insufficient skills.”
Medilink Midlands, which is supporting the government in its allocation of £1.6 billion in funding for regional investment as part of the ‘level-up’ process, has estimated that over 80 per cent of life sciences companies in the midlands have struggled to access funding and have found the funding application process a major problem, as well as the costs to implement and achieve Net Zero for their business.
Himsworth added: “With our skills, knowledge, expertise, network and connections, Medilink Midlands has the resources to deliver relevant industry support. We continue to create connections and opportunities through engagement with organisations including the Office of Life Sciences (OLS), LEPs, Chamber of Commerce, universities in Nottingham, Birmingham and Lincoln, Innovation Accelerators, Midlands Aerospace Alliance and Midlands Health Board.”