London Bioscience Innovation Centre chosen as the 'Entrepreneurial Spirit and Knowledge-Based Enterprise Creation' winner in European Awards of University-Industry Co-operation with Regional Impact
The London Bioscience Innovation Centre (LBIC), owned by the Royal Veterinary College, has been recognised within the European community for helping fledgling businesses and developing links between universities and industry with an award from Ruisnet (Regional Universities Industry Strategy Unit).
The award, which was presented to LBIC at the awards ceremony in Brussels on Thursday 26 April, recognises that LBIC is leading the way in creating links between university research and the bioscience industry.
LBIC, London's first bioscience incubator, has succeeded in contributing to the London BioScience network and creating a business support structure for young bioscience companies.
"The creation of the London BioScience Innovation Centre was a direct response to the shortage of accommodation for life sciences activity in central London.
"LBIC forms a key part of the London Development Agency's strategy for life sciences and we are grateful to the LDA for supporting this initiative from the outset", said Professor Colin Howard, CEO of the London Bioscience Innovation Centre.
"This award recognises the incredible achievements that we've been able to make in the six years since the London Bioscience Innovation Centre started up.
"It's a mark of this progress that we've been recognised within Europe for the contribution that we are making to the London bioscience industry, and for the support that we have provided to help start-up businesses grow".
LBIC currently provides 21st century laboratory and office facilities for 23 companies.
Existing LBIC clients are biotechnology and diagnostic companies, life science product and service providers, venture investors and small pharmaceutical companies.
LBIC has also succeeded in attracting overseas investment to London by providing a high quality bioscience facility for overseas companies wishing to benefit from the capital's extensive educational, business and financial infrastructure.
This is done through offering virtual client packages which give overseas business a UK base; currently LBIC has clients from Australia, Canada, Finland, France, India, Japan, and USA.
LBIC was also recognised for creating a business model that could be transferred elsewhere across the UK and into other European countries, as well as to other business sectors.
LBIC's business model is predicated on supplying its clients with very flexible lease terms and accommodation arrangements, unlike many conventional science parks.
This approach resonates with the needs of new and emerging bioscience businesses whose space and facility requirements can change within short timescales.
