Government strategy on exports promises to be a strong driver of growth down the road
A new export strategy for life sciences was launched just before the conference by the Scottish Government, in partnership with Scottish Development International, and the Industry Leadership Group (ILG) for Life Sciences Scotland.
Mark Cook, co-chair of the ILG, said the strategy offered companies “lots more help to succeed and get into very large markets”, such as the US.
David Bunton, of the ILG’S internationalisation group, reported that about 200 organisations had fed into the export strategy, focused on supporting smaller businesses to get into new markets, with a strong focus on the US. “Exports will be a strong driver of future growth in life sciences,” he said. “We focused on smaller businesses as larger ones tended to be selfsufficient, with well-developed export strategies.”
As well as the US, the Asiapacific, Middle East and Africa are key markets, especially for digital health solutions, Bunton told the conference.
He outlined four key planks to the new export strategy:
Realising global opportunities by providing market research; setting up an advisory panel to help with commercialisation and market entry in digital health; working with other sectors, such as tech and food and drink, to support the global ambitions of AAA (animal health, agritech and aquaculture), and finding partners in emerging markets. n Helping SMES access the both regulatory and technical expertise. n Exporting more to the US. n Building connections and knowledge.
Bunton added it is vital to act quickly: “There is no point unless we follow through, and that is a collective responsibility. We will revise and refresh the strategy and everyone in this room needs to get involved.”
Peter Ellingham, chief executive of the Association of British Healthtech Industries, agreed. “We need to get on with it,” he said, calling for industry, academia and the NHS to work closely. “If you take the Triple Helix to the United States, you will get a good hearing,” he added.