March 25th 2019
by D2N2 Local Enterprise Partnership
A planned facility to speed development of new healthcare products and technologies – and create hundreds of jobs – will receive major funding, via the D2N2 Local Enterprise Partnership.
Invest NewsNottingham Trent University’s £23million dual site ‘Medical Technologies Innovation Facility’ (or MTIF Centre) would see experts working with industry, to create new health devices and advanced materials for medical use.
The MITF Centre would be based at two new Nottingham buildings; one for research and development at NTU’s Clifton Campus – home to the university’s School of Science and Technology – and another focusing on pilot production, manufacturing, quality assurance and commercialisation at the Nottingham Enterprise Zone, based at Boots HQ. The project will integrate scientists, engineers, designers, clinicians, inventors and entrepreneurs’ work.
The area covered by the D2N2 LEP – the private sector-led Partnership which promotes economic and business growth across Nottingham, Nottinghamshire, Derby and Derbyshire – has a strong healthcare sector. Those behind the MTIF Centre say the new facility is needed to help firms:
“It is estimated the MTIF Centre could create up to 942 jobs and add £50million of GVA (Gross Value Added, or a measure of the value of goods and services an area produces) to the local economy within ten years; and create 3,318 square metres of additional commercial floor space (over the NTU and Enterprise Zone sites).”
Now up to £9.7million will be awarded towards the project by the D2N2 Infrastructure and Investment Board; with funds already approved for Phase 1 (Clifton Campus), and with approval for further investment for Phase 2 (Nottingham Enterprise Zone, Boots) subject to submission of a further design plan. This adds to NTU’s own funding of over £13m and the £300,000 set to come from Enterprise Zone business rates (Nottingham Enterprise Zone is one of four sites in the wider Nottingham & Derby Enterprise Zone, strategically managed by the D2N2 LEP).
Building at both sites would begin this year and be completed in 2020.
“Life Sciences is one of the LEP’s primary sectors, reflecting the number of bio and healthcare services companies in its area.”
Sajeeda Rose, Chief Executive of the D2N2 Local Enterprise PartnershipSajeeda continued:
“I am pleased to see the approval of significant D2N2 funding for NTU’s planned Medical Technologies Innovation Facility, which will help firms get their innovative products into the marketplace more quickly. It’s a great example of a LEP area university working closely with the private sector, to help businesses expand.”
“Medical technology is one of the real strengths of the local economy, one of the real strengths of Nottingham Trent University and a major priority for the Midlands Engine; so this is both a timely and exciting development.”
Professor Edward Peck, Nottingham Trent University Vice-ChancellorFunding from the D2N2 LEP for the MTIF Centre will come from the LEP’s Local Growth Fund (LGF) allocation, money awarded by the UK Government to enable D2N2 to part-fund major capital projects which directly help the area’s economy and create jobs. More on how D2N2 is using its LGF to boost its area’s infrastructure and economy at web link www.d2n2lep.org/Local-Growth-F...
“We are committed to boosting economic growth across the whole of the Midlands Engine and building a country that works for everyone.”
Jake Berry – Minister for Local Growth at the Ministry of Housing, Communities and Local GovernmentJake continued:
“Our £9.7million investment in Nottingham Trent University’s new dual site Medical Technologies Innovation Facility through the Local Growth Fund shows our modern Industrial Strategy in action. These facilities are predicted to create up to 942 jobs and add £50million to the local economy in the next decade.
“It will further benefit Nottingham, the Midlands and the whole UK economy by allowing innovation to flourish and enable academics and MedTech entrepreneurs to work more closely together to grow this important sector of our economy.”
Further information about the Nottingham & Derby Enterprise Zone is at web link www.d2n2lep.org/Growth/Enterpr...
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