Research commissioned by Milton Park reveals that the combined turnover of businesses located at the science, technology and business community totals more than £37 billion, generating a significant contribution to the Oxfordshire and wider UK economy.
The findings produced by high-growth insights firm Beauhurst show that 2021 has been a stellar year for businesses at the Park with public and private equity investment reaching a combined £590 million between January and October.
Figures previously reported in the Financial Times showed that in the UK, total funds raised in the life sciences sectors this year have reached £4.25 billion already, compared with £2.8 billion in 2020.
These findings prompted Milton Park to shine a light on how much investment is generated by the businesses it looks after.
The hard work of businesses on Milton Park has led to opportunities for collaboration with national policymakers. The UK government’s Life Sciences Vision initiative outlines plans for the sector’s growth over the next decade.
Resident companies Isansys, Immunocore and Arctoris have had significant involvement in developing the initiative, which seeks to solve some of the biggest healthcare problems of our generation, including cancer, dementia, and infectious diseases such as Covid-19.
The life sciences industry is future-facing at its core and businesses on the Park continue to make strides to inspire budding scientists. This October, pharmaceutical firm Vertex launched a series of STEAM education programmes alongside a new state-of-the-art ‘Learning Lab’ space at Milton Park, giving the opportunity for students to gain a hands-on experience of working in a lab-based environment.
Part of Vertex’s £36.5m investment is geared towards improving diversity and inclusion, with a particular focus on encouraging and inspiring those who may not usually consider a career in science and technology to do so.
Philip Campbell, commercial director at MEPC Milton Park, said: “After seeing record levels of investment in life sciences across the world this year, we wanted to put a spotlight on how much of that funding had been raised by companies based at Milton Park.
“The findings reveal the fantastic contribution that Milton Park companies are making to the booming Oxfordshire cluster.
“While innovation remains at the forefront of everything they do, we strive to create an environment that fosters collaboration, breeds creativity, and inspires current and future businesses to do amazing things.
“As the focus and investment into life sciences continues to increase, it’s an immense privilege to be working with businesses to support and accommodate their future growth plans and we look forward to announcing exciting new developments to accommodate many more companies in the new future.”
The growing list of achievements by businesses based at Milton Park is backed by its long-term plans for sustainable growth.
The 2040 Vision sets out plans how the Park will grow in the next 20 years from 9,000 people currently working on the site to 20,000.
This investment will take the Park from its current position as a leading science and business park to a pioneering research destination and corridor for innovation, all while keeping environmental sustainability front and centre.
Through innovation, collaboration and inspiration, each and every business at Milton Park continues to play their part in supporting the Oxfordshire and UK economy – now and into the future.