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Biotechnology To Drive Knowledge Economy - Alexander
14/11/2000
Scotland's Biotechnology cluster offers wealth creation, high quality jobs and is a key component of the Knowledge Economy, Minister for Enterprise and Lifelong Learning, Wendy Alexander said today.
Ms Alexander presented Remedios a new biotechnology company, based in Aberdeen and launched in November 1999 a Best Newcomer Award. They have developed a unique ToxmapÔ service to rapidly map the toxicity on a site and identify contamination hotspots.
Speaking at the biotechnology cluster Annual Dinner, in the Great Hall at Stirling Castle, Ms Alexander said:
"In Scotland, we cannot compete through low cost or a low skilled workforce. We must promote our most innovative businesses and encourage people to develop their science and technology ideas. Our biotechnology cluster has a key role to play in doing this. Its innovation can help drive forward the knowledge economy, creating wealth and high quality jobs.
"Scottish biotechnology cluster is growing faster than forecast. The number of new biotech companies created, the number of support and supply organisations participating and the number of jobs in the cluster are all ahead of target at this stage.
"I am delighted to be able to present this award which recognises a company that exemplifies the innovation and success being generated by Scottish biotechnology industry."
BACKGROUND
- In November 1999, Scottish Enterprise announced its Framework for Action Plan with an investment of £40m over 4 years, to double the size of the biotechnology sector in Scotland.
- A year further on, it has been decided to hold an Annual Dinner to update key leaders of the biotechnology community on progress and success so far. Special recognition in the form of a Best Newcomer Award will be made to a new company in the cluster. The award is being sponsored by CA Magazine.
- Remedios is a new biotechnology company launched in November 1999 which applies biosensor technology to diagnose contaminated land and water and provide solutions for its clean up. Its technology is rapid and provides user-friendly information. It is based in Aberdeen.
In its first year of trading it has generated a substantial amount of business in the UK and Europe. The company has promoted its technology through a number of high profile awards, having gained
Millennium Product Status
The Sir Ian Wood Award for Innovation
SMART Award Scotland
A Scottish Enterprise Grampian Product Development Grant
The company has formed an alliance with one of the foremost insurers in the environmental industry, Willis Ltd, and has developed an insurance policy, which will be jointly marketed by them in this month. This will have a major impact on sales, as clients will be able to use the technology and back this with a transferable insurance policy. This will provide the means and confidence by which owners of contaminated land can redevelop their sites and bring derelict land back into use.
They have developed a unique ToxmapÔ service to rapidly map the toxicity on a site and identify contamination hotspots.
Remedios opened a Birmingham Office in July 2000
News Release: SE2938/2000
14 Nov 2000