Dundee is to host the new intermediate technology institute for life sciences. Announcing the three new institutes, including energy in Aberdeen and communications technology and digital media in Glasgow, First Minister Jack McConnell said: "Initial research predicts that within the first ten years, at least 75 successful spinouts and start up companies will be operating as a direct result of the technology institutes - rising to around 170 after 20 years."
Principal Sir Alan Langlands welcomed the announcement saying: "The intermediate technology institute for life sciences in Dundee is a long term investment which will build bridges between industry and universities. It is good news for Scotland and for Dundee.
"It will further enhance the strong research networks that the University of Dundee has established with the Scottish Crop Research Institute and the University of St Andrews. This is a well founded and far sighted investment in Scottish bioscience at its best which promises benefits not just to business and the economy but to broader issues of health and quality of life. Life sciences have a major contribution to make to global society as well as to the Scottish knowledge economy and to Tayside where they already account for 12% of the local economy."
Professor Sir Philip Cohen said: "The siting of the intermediate technology institute for life sciences in Dundee is a reflection of the world class strengths that we have built up in this area over the last 30 years. The key to the success of this exciting new initiative will be the recruitment of an outstanding person to head it."
Scottish Enterprise is committing £450 million over the next 10 years to the technology institutes which are the UK’s first.