What is the Northern Powerhouse?
The Northern Powerhouse consists of over 15 million people with an economy of over £300 billion!! It’s composed of The Northwest, Yorkshire and Humber and the Northeast.
The Northern Powerhouse is the government's vision for a super-connected, globally competitive northern economy to create a unified economic region, that could compete with other European countries for investment in industries, which was proposed by the 2010-2015 coalition government and 2015-2016 Conservative governments, as an alternative to London’s dominance within the UK’s government.
The government’s strategy provides free, independent advice and support for Life Sciences organisations.
But how does this relate to Life Sciences?
Well, here's what we've found out so far:
The UK has a long history of Life Sciences - In 1123, the first hospital called St Bartholomew’s Hospital opened in London and the first medical school was established in England in 1785 called The London Hospital Medical College.
Genetics and cellular biology were explored in the 19th and 20th century by multiple scientists such as James Watson and Francis Crick. The Life Sciences industry has always been an international collaboration and it continues to be. With the discovery of the structure of DNA, the fields of genetics, genomics and molecular cell biology, the industry is continuing to grow every day and finding new innovative ways to change the lives of people globally.
What does this mean for the economy?
The sector is a major contributor to the economy in revenue and in the demand for talent. Here are some statistics from over the last 3 years:
In 2019, a government report shows that in the UK, the Life Sciences sector employed 256,000 people across the UK, which generated a combined estimated turnover of £80.7 billion comprises 6,300 businesses.
In 2020, the sector employed over 268,000 people and generated a turnover of £88.9bn. The UK's life sciences industry will become the global hub for medical innovation, bringing together business, researchers and clinicians to translate discovery into clinical use for the NHS.
While the Life Sciences sector faced pressure for nearly two years, caused by the COVID-19 pandemic, the industry has a high demand for talent. “…people are leaving in large numbers, yet the sector is growing faster than ever before”, said by Meaghan Piscitelli, a partner at Aon (a leading service providing health solutions).
In 2021 Life Sciences organisations in the UK generated £94.2 billion in turnover, a 9% increase from 2020.
In 2022 it was estimated that 71% of Life Sciences companies plan to increase their workforce - 2022 reports have yet to be released.
So, the question is, has the Northern Powerhouse been successful for Life Sciences sector?
The quick answer is yes - the Northern Powerhouse is home to 1,000 Life Sciences businesses which generates lots of revenue for the UK, as discussed above.
An astonishing 287,000 people have been employed and a £10 billion increase in the size of the economy have been allocated to the project. The Life Sciences sector alone contributes over £10.6 billion to the UK’s economy each year.
CC: https://www.n8research.org.uk/media/The-NPH-Life-Science-Pitch-Deck.pdf
Northern Life Sciences pioneers leading the way:
In addition to the Northern Powerhouse's regions, we learn of pioneering organisations harnessing the innovative research and manufacturing capability of the North.
QIAGEN -
A biotechnology company located in Manchester is a provider of molecular testing solutions.
Rowena Burns (Chair of Health Innovation) said, “The completion of QIAGEN’s move to state-of-art-facilities is a major development for life sciences in Manchester and a testament to plans to create a global genomics hub here. Addressing the health needs of local people and contributing to improved diagnosis and treatment of diseases around the world, will create many highly skilled jobs and economic growth”.
QuantuMDx -
Based in Newcastle Upon Tyne, it is a medical technology company dedicated to delivering fast results, controlling diseases and reducing suffering with new innovative technologies.
Elaine Warburton (CEO) said, “locating our HQ in Newcastle was a conscious decision. Aside from being a great city with such friendly people and a real buzz, being situated at a leading genetics institution and within the Centre for Life places us at the heart of global DNA-based research. The availability of high-calibre scientific researchers at Northumbria and Newcastle Universities, and the scope for excellent networking opportunities to develop our business internationally, was also a further deciding factor.”
nufuture
The world of work is all about people and purpose and that’s why we partner with pioneering Life Sciences companies that are making a difference.
We spend our time and energy getting to know you first, to find out exactly the type of position or people you’re looking for, before matching you to your ideal company or selecting the best person for your requirement.
We’re already well-connected with the best IT talent and organisations in the Life Sciences industry. Get in touch and we’ll do the intro.
Connect with nufuture today to find out how we can help you.
Bracknell phone: 01344 289224
Manchester phone: 0161 791 0237
Email info@nufuture.co.uk