Could life science and tech be a wonder drug for Reeve’s growth ambitions?

All eyes are on Reeves as Labour gears up to unveil the Budget this week. Through the fog of speculation, expect to see a focus on high-growth sectors like life science and tech, with the government doubling down on plans to become a powerhouse in those fields by 2030.
Labour’s Prescription For Growth was a teaser of what’s to come, but we’ll no doubt see a swathe of announcements this week which provide greater support for R&D whilst tackling regulation, procurement, tax and the planning system.
With a recent survey suggesting bureaucracy and limited access to infrastructure as key barriers holding back innovation, this month’s United Kingdom Science Park Association (UKSPA) conference was an ideal opportunity to reflect on how the built environment can help to overcome challenges.
Is the sector ‘coming of age’?
John Leake, UKSPA’s Chair and Growth Director for Sci-Tech Daresbury, kicked off the conference by saying the sector “is coming of age”, with rising revenues and rental rates underlining its maturity.
In his keynote, the UK Minister for Science, Lord Valance, outlined the government’s primary goal to invest in world-class science and innovation.
For Leake and Valance, science parks which embody the academic, industrial and government triple-helix model of collaboration will be those best placed to succeed.
Although they’ve certainly “come of age” and are driving economic growth, job creation and innovation, these clusters will still face challenges in maximising their potential.
Levelling-up life sciences
Despite the UK ranking fifth among 133 economies in the Global Innovation Index, regional disparities for science parks are stark. The conference heard from CBI’s Jordan Cummins that, although Cambridge and Oxford’s clusters are world-leading, areas like West Yorkshire and Lincolnshire risk falling behind.
We must ensure underfunded regions can ‘catch up’ and contribute to the national innovation ecosystem. Angelene Woodland of the British Business Bank, Professor Dame Jessica Corner from UKRI and Dean Cook from Innovate UK outlined the importance of access to finance, and how initiatives like the Strength in Places and the Regional Innovation Funds are levelling the playing field in regions where it’s needed most.
Whilst that’s a good start, the sector must also do its bit by breaking down barriers with surrounding communities.
Community cohesion
The panel discussed going beyond the triple-helix, looking to neighbours in the US and adopting MIT’s Innovation Ecosystem model; bringing together universities, entrepreneurs, risk capital, and corporate and government support.
However, for Catherine Johns, behind County Durham’s NetPark, you can have all the ecosystems you want, but it’ll go to waste if you don’t listen to and meaningfully engage with communities to achieve a plurality of voices.
The panel heard from IASP’s CEO Ebba Lund on the international perspective, who emphasised how “no two places are the same”, with ecosystems requiring tailored support to break down barriers with communities.
The panel emphasised how local authorities and mayoral authorities will play a key role in ensuring investments are channelled effectively, with place-making decisions made by local people, in their own communities.
Sustainability: the next frontier?
With rising investor focus on ESG, the sector is also grappling with a need to decarbonise, especially in energy-intensive laboratories.
It’s something Meeting Place has been supporting Milton Park on in Oxfordshire. Having scooped the Environmental Sustainability award at the Conference’s awards ceremony, the team was recognised as one of the most sustainable innovation communities, thanks to its initiatives to reduce carbon emissions.
The conference heard how site-wide strategies using technologies like digital twins and thermal models can track energy usage and promote transparency. As Jason Richards of Silcock Leedham pointed out, engaging communities and end-users early on in the design process is critical to creating truly sustainable life sciences hubs.
Decarbonisation also extends to power infrastructure. For example, several science parks are experimenting with decentralised energy systems and hydrogen production to meet growing energy needs, to build resilient, future-proofed methods of powering innovation.
Place-making and shaping
Richard O’Boyle, CEO, Pioneer Group, emphasised just how critical place is. He called for a holistic approach to infrastructure, bringing forward adequate transport, homes and schools surrounding science parks to attract people and skills into the area.
UKRI’s Dean Cook then outlined the importance of close partnerships with local authorities. New devolved authority areas and mayors outside of the South East will need to put in place mission-focused projects to co-create in their own backyard, simultaneously overcoming planning hurdles, and tackling net zero and infrastructure challenges.
Opportunity knocks
From gene therapy and obesity drugs to radiopharmaceuticals and biologics, uplifting panels led by Queen Mary’s Faculty of Medicine’s Professor Sir Mark Caulfield underpinned just how brilliant the UK can be when our innovators put their minds to it.
Science parks are poised to play a key role in creating the conditions for that innovation to flourish; facilitating innovation, creating jobs and enabling scientific breakthroughs whilst delivering inclusive growth.
However, to fully realise this potential, we’ll require a mission-economy-approach, which brings together academia, industry, government and local communities. It’s a model that will ensure the benefits of innovation are felt across the UK, not just in a few hotspots.
Whilst the Budget will be telling, the following months will provide the real litmus test for the sector’s resilience and its ability to drive forward the UK’s economic engine.