ESSEX County Council have announced the £500,000 investment into MedTech Accelerator Ltd’s Life Sciences and Medical Technology (MedTech) sector in Essex and the East of England.
The Cabinet approved investment, will support funding to NHS organisations with the aim of developing commercial companies to deliver clinical products to market.
The investment is an element of a wider plan to the Essex County Council programme alongside the recent investment to the Anglia Ruskin University MedTech Innovation Centre at Harlow Enterprise Zone. The joint project will boost the sector through supporting start-up businesses, enterprises as well as international companies, which could lead to a boost in economic growth in Essex.
Councillor Kevin Bentley, Deputy Leader at Essex County Council and Cabinet Member for Economic Growth, stated, ‘We are investing in MedTech Accelerator Ltd as Life Sciences and the MedTech sector has a major impact of economic growth in Essex. ‘
Cllr Bentley continued, ‘Both the Harlow Enterprise Zone and Public Health England will create jobs and business opportunities from both international and national companies from the MedTech sector.’
Public Health England, due to the large investment, will be relocating its facilities to Harlow transferring 2,500 jobs to the town by 2024.
Essex now has the potential of becoming a global leader in the fields of Life Sciences and MedTech and along with the large investment; it shows the Council’s commitment to development.