With construction completed for all three Innovation and Business Growth projects, work is now underway to monitor and measure their contribution to the local economy and the benefits being derived from their operation.
MediCity Scotland based at Euro Central Business Park in North Lanarkshire, a dedicated medical technology incubation facility, brings together academics, entrepreneurs, clinicians and business support services to boost the development of new healthcare services and medical technology. The project revitalised 11,000 square feet of unused commercial floor space and has supported 70 new life science and med-tech companies and created over 200 jobs to date. Companies based at the facility have raised £26 million in private investment and launched 25 new healthcare / medical technology products or services (November 2020).
Project Value: £1.012 million
Status: Construction completed, opened March 2016.
Tontine based in Glasgow’s Merchant City, is achieving its aim of supporting new SME start-ups in the enabling technology, advanced design and manufacturing, and creative economy sectors. Currently 27 companies are based on site, over 530 new jobs have been generated to date and a number of companies have outgrown the space and moved into larger premises, freeing up opportunities for further new starts. To date, Tontine has supported 51 businesses which have delivered a combined increase in turnover of over £54 million (March 2020).
Project Value: £4 million
Status: Construction completed, opened August 2016
Imaging Centre of Excellence
The University of Glasgow led Imaging Centre of Excellence is translating science into economic and patient benefit, with three fully operational scanners now on site, including the 7-Tesla MRI, the first of its kind fully integrated within a UK clinical sites. Over 5,000 CT and MRI clinical scans have been completed there to date and over £38 million additional funding secured (March 2020).
Project Value: £16 million City Deal funding, as part of a £32 million project total
Status: Opened March 2017.