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Glasgow City Innovation District set to bring new investment, companies and competitive advantage to the heart of the city.
Scotland’s first Innovation District was officially launched at the University of Strathclyde in Glasgow today (Friday 1 February).
Glasgow City Innovation District is transforming the way academia, business and industry collaborate to bring competitive advantage to Scotland.
The model – which is recognised for improving productivity, creating jobs and attracting inward investment in several cities around the globe – brings together researchers and high-growth firms with technology and creative start-ups, to work side-by-side in vibrant, walkable innovation communities.
Among the companies at the launch was leading technology firm, M Squared Lasers, which announced it is developing a new Quantum Centre within the District to enable 20 researchers to co-locate with the University of Strathclyde.
Welcoming the new District, Derek Mackay, Cabinet Secretary for Finance, Economy and Fair Work, said: “I am delighted to launch the Glasgow City Innovation District today. This is an exciting, ambitious project, one that could have significant economic and social impact for Glasgow, the surrounding areas and Scotland.
“This innovation district has the potential to transform the opportunities for businesses in the area, whilst attracting new investment and boosting Glasgow’s established reputation as a city of innovation, in which the University of Strathclyde plays a key role.”
Glasgow City Innovation District stretches from George Square to the edge of Glasgow Green and into the east end of the city, and runs from Glasgow Royal Infirmary south to the Clyde. Key sites within the District include the University of Strathclyde’s Technology & Innovation Centre and Inovo buildings, Glasgow City Council’s Tontine Building, and the Garment Factory.
In the past eight years alone, the University and partners have invested more than £100 million in the pioneering Technology & Innovation Centre and neighbouring Inovo building, enabling co-location of businesses and research groups.
To meet demand, plans are now in development for two additional buildings next to the Technology & Innovation Centre to double the space available for co-location of companies and world-class research groups. New clusters of activity in areas central to economic impact have already emerged, including Quantum, Space, 5G Communications, Health Technology, Industrial Informatics and FinTech.
At the same time, significant investment has been made in the creative sectors, including the creation of Tontine – a thriving business accelerator funded by Glasgow City Region City Deal, and Barras Art and Design in the East End. The area is being transformed further through City Deal funding which will see the development of new transport initiatives, homes, hotels, commercial space and public realm in the Collegelands site adjacent to High Street.
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