11 Jan Scotland’s life sciences sector needs to keep shouting about its 10-figure achievements
Chartered (UK) and European Patent Attorney for Marks & Clerk LLP, Richard Gibbs discusses.
It’s vital that we continue to champion and showcase the wide achievements of our life sciences sector – and that’s where events like Scotland’s Life Sciences Dinner & Annual Awards come in.
There are few more influential gatherings for this growing sector, which contributes £4 billion annually to the country’s economy. The awards have helped to foster a new spirit of entrepreneurship and ambition in all areas of life sciences while recognising a range of achievements.
Looking back, I can see how the event has benefitted numerous individuals and companies, and with Marks & Clerk being a proud supporter, I feel passionate about its impact.
It has also served as an excellent forum for discussing how best to promote and encourage future innovation.
If we are to double Scotland’s outstanding life science performance to a turnover target of £8 billion – as the sector has already pledged to do by 2025 – then we must increasingly shout about the great ground-breaking work that has already been undertaken and the major breakthroughs that are set to follow.
It’s often said that Scotland punches above its weight on the global stage, but it’s no idle claim when it comes to life sciences. However, Scotland’s prowess in animal health technology often goes under the radar – but it is true to say that in the fields of vaccine development, genetics, genomics and proteomics, endemic disease research and ruminant parasitology, Scotland is a world leader. Indeed Scotland has the largest concentration of animal health-related expertise anywhere in Europe.
The veterinary science market is huge too and commentators report that it is set to be worth $64.6 billion globally by 2025.
Add into this Scotland’s innovative and diverse aquaculture community supporting a market that contributes some £1.8 billion every year to the Scottish economy, and it is easy to see how the vision to become the world leaders in animal science is an attainable one.
There is undoubtedly a real buzz about the sector right now with a constant drip-feed of positive research announcements and additional funding amid high growth potential. So it’s an exciting time for Marks & Clerk and its thriving domestic and international life science practice.
We see ourselves as playing a key role in Scotland’s life sciences community, drawing on the experience and technical expertise of our patent and trade mark attorneys to offer invaluable advice, from preparing and filing patent applications, to freedom to operate analyses and opposition activity at the European Patent Office (EPO), through to commercial and strategic advice.
As we begin 2019 we expect the digital revolution to tighten its grip on life science technology. It’s in such areas that forward-thinking Scotland can excel, particularly in the likes of medical imaging and point-of-care diagnostics.
Specialists like ourselves can play a significant role in these areas. Marks & Clerk offers advice on how to robustly protect innovation, while delivering valuable prosecution and strategy services at what can be a hugely important time in a company’s development.
We believe, fundamentally, that a well thought out IP strategy should be at the heart of every business. Our patent and trade mark attorneys know the market and economic environment that their clients work in and they take time to understand their commercial goals and needs.
For budding life sciences entrepreneurs, Marks & Clerk’s attorneys can provide everything from basic advice on whether a new idea can be patented and the many different ways you can leverage your IP rights, to simple good practice – like ensuring that you file your patent application before you disclose – and reviewing competitor activity to help you plan your strategy.
Doubling Scotland’s life sciences revenue in just a few years’ time is no mean feat, but using IP to support Scotland’s innovative attitude will be central to achieving it.