Is Manchester medtech’s new Massachusetts?
Why Manchester is set to become a global medtech player Massachusetts-style
There’s no escaping the fact that Massachusetts has become a shining light in the medtech sector. This US state is no stranger to being held up as an example to medical device and pharmaceutical innovation both within its own country and globally.
Last summer a report in Nature.com described how companies were fighting over space within Boston’s biotech hub. Keen to take advantage of the expertise that has made the city’s Kendall Square its home, over 100 biomedical businesses had snapped up premises in the region. Prior to this, companies such as Novartis, Baxter International, GE Healthcare, Shire and Pfizer had already put roots down in the area underlining the strength of the Massachusetts zip code. The report highlighted how at the time, ‘young biotechs also compete with high-tech firms so desperate for office space in Cambridge that they are renting buildings designed to accommodate labs. Since the end of 2012, lab rents in the Kendall Square area have risen by 13%.’ The pull of this area is clear.
This side of the Atlantic, the UK has established itself as a major centre for global medtech innovation but what lessons can it take from Massachusetts to help boost its own thriving life science industry? This country has a longstanding life science hotspot in the Oxford-London–Cambridge triangle and more recently North West England has become tipped for great success in the medtech arena. We also have the news that the UK capital is backing the push into digital health – a relatively new layer in the life science strata – and the opportunities look increasingly exciting. Putting the spotlight on the North West and its bid to become a global hotspot in the life science sector – what can it learn from the successful Massachusetts medtech model ?
Name dropping
Global names have put their money where their mouths are in Massachusetts which has no doubt increased the region’s credibility and ability to attract both big name players and start-ups. A similar story is happening in the UK’s North West. Companies such as AstraZeneca are familiar faces in the region and with dedicated science and technology enterprise zones such as Daresbury Park and the BioHub at Alderley Park in Cheshire, the opportunity for both innovation and collaboration is immense. A little research on the area pulls up a variety of statistics on for Manchester alone – it boasts over 30 NHS organisations, Europe’s largest clinical academic campus plus over 250 life science companies in the surrounding area. Add to this the fact that it is becoming the number one UK location for biomedical foreign investment along with appointment of a Northern Powerhouse minister, James Wharton, and clearly the region has a number of factors helping build its world-class position.
History on its side
Massachusetts is no stranger to success. The state has a history of industrial drive; precursors to its global medtech cluster have included shipbuilding, textiles and microchips. It’s a similar story in the North West / Manchester region. The industrial revolution, manufacturing, aerospace and computing are key examples of the area’s global expertise. Major global scientific breakthroughs such as the first test tube baby, the first bionic eye implant and the first hip replacement highlight the successful heritage the Northern Powerhouse has behind it.
Brainpower
Academic and intellectual expertise has been a key driver in the continued success of medtech in Massachusetts – the Massachusetts Institute of Technology, Boston University and Harvard have helped shaped the wave of innovation in the state as well as ensure a future pipeline of academic excellence which is crucial to ensure longevity of success. This proliferation of academic expertise also exists in and around Manchester which offers world class R&D along with access to a selection of leading academic centres of excellence. Life science facilities have been on the increase over recent years with the BioHub at Alderley Park, Manchester Institute of Biotechnology, Life Science Enterprise Zone and Manchester Science Park just a few examples of the clinical and academic excellence on offer within and around the city.
Of course there’s some way to go before Manchester holds the same global sway as Massachusetts but this could be sooner rather than later. A history of bold breakthrough and academic expertise, not to mention great road, rail and air networks could see the region become a force majeure in the medtech world. With a £42 million life science fund in place to help make this a reality, it won’t be long before this area sees start-ups fighting with medtech’s big boys for a place in northern life science clusters. Remember where you read it first…