Associate Feature: Driving growth, saving lives – the University of Dundee blueprint

The most compelling argument that universities can make for research funding is that we deliver a strong return on taxpayers’ money. 

This has never been more crucial, as generating economic growth is key to helping Scotland prosper in the post-covid, post-inflationary world. Through scientific and technological excellence, the University of Dundee is at the forefront of these efforts.

A report published last year by Octopus Ventures, one of Europe’s largest venture capital firms, named Dundee as the UK’s top institution for supporting the success of high-growth spin-out companies based on its research. This complements our status as the UK’s top-ranked university for biological sciences in the last two Research Excellence Framework (REF) exercises. 

World-leading research does not automatically equate to new companies, however. Among the factors driving our success is the large number of innovative and entrepreneurial researchers at Dundee who want to see their work have real-world impact. 

One example of this is Exscientia Ltd, which became one of the largest ever UK spin-out exits when it raised $510 million on the US NASDAQ exchange. Exscientia is a world leader in AI-driven drug discovery and works with global pharmaceutical giants to speed up the process of bringing new treatments to patients.

The University has developed a support system over many years to enable this activity, and many millions have been invested in creating specialist units that can translate research results into investable proto-companies. At a corporate level, we see this as a crucial way of contributing to economic regeneration and our commitment to creating companies is reflected in major infrastructure investments.

In addition, we are very well connected with investors and take a pragmatic approach to working with them in recognition of each company’s individual circumstances. Typically, we will help academic founders source managers and investors and work with all parties to launch and grow the business.

Our School of Life Sciences is a vibrant hub of international talent, with 900 scientists from over 50 countries working across infectious diseases, cancer, neurodegeneration, plant sciences, clinical research and drug discovery. Our School of Medicine is an emerging centre of excellence in medical technology and has unique resources in health data. Collaborations with designers, social scientists, computer scientists and engineers are helping to reimagine healthcare, bolstered by strong links with industry and the NHS.

Our aspiration is to harness this creativity to create a Life Sciences Innovation District  in Dundee, in collaboration with other research organisations and partners. We want to anchor companies here and help Dundee become a magnet for high-value jobs in the health and life sciences sector.

The Life Sciences Innovation District will grow from a site adjacent to the main University campus that is already home to the University’s £24 million Centre for Targeted Protein Degradation. This new research centre bolsters Dundee’s world-leading position in a field of chemical biology that is revolutionising drug discovery by raising hopes of treating diseases previously thought to be undruggable 

An Innovation Hub – partly funded by the Tay Cities Deal – is currently being built next to the centre. The Hub is due to open in early 2025 and will provide space for spin-out companies from Dundee and other institutions in their high-growth phase. Follow-on space will eventually accommodate companies that outgrow the Hub.

Our track-record in life-saving fundamental and clinical research speaks for itself. We have also shown that we can support enterprising researchers to translate their research into new companies. The next step is to use this innovation to transform our city and region while generating economic growth at a national level. 

This article is sponsored by University of Dundee

www.dundee.ac.uk/life-sciences/start-ups