The Scottish Government has this week launched a new export plan for the life sciences sector, with an ambition for exports to represent 25 per cent of Scotland's total GDP by 2029.
The strategy centres on support for Scottish companies in order to take advantage of the global opportunities in life sciences, with access to key skills and specialist advice, and a specific focus on enhancing support in the US. The plan is particularly relevant to HealthTech, as the industry is now the largest contributor to Scotland’s broader life science company exports.
There are nine actions listed within the strategy, with the following five that are particularly promising for HealthTech:
- Pilot a support mechanism in the life sciences sector to help SMEs undertake market research, market visits and/or attend specialist in-market events.
- Work with enterprise agencies and partners to support companies to navigate the regulatory frameworks in international markets.
- Partner with agencies, industry bodies and relevant experts to deliver a programme of networking events with a focus on encouraging peer-to-peer learning.
- Recruiting an additional SDI in-market specialist in the US.
- Re-establishing Scotland’s international trade and investment presence at the annual BIO International. Convention. We will also explore how Scotland can best leverage opportunities at AdvaMed.
ABHI took part in the research that informed the report and contributed directly to its writing via its work with the Scottish Government.Through the Industry Leadership Group (ILG) for Life Sciences in Scotland, it was also able to input into the recommendations. ABHI is now working with the Scottish Government to bring the strategy to life and to ensure these actions are rolled-out in a way that can deliver maximum benefit for Scottish innovators. Click here for more information.