Spearheaded by Scottish Enterprise, the £35 million Life Sciences Accommodation Programme aims to resolve the current shortage of affordable, specialised premises, providing the essential infrastructure required for businesses to commercialise research and scale their operations.

The package, which will launch later this year, delivers on a public sector commitment to help match supply and demand for laboratory space as the sector seeks to become a £25 billion industry by 2035.

Deputy First Minister Kate Forbes announced plans for the programme at the first Scottish Spinout Summit in Glasgow.

Taking place at the University of Strathclyde’s Technology and Innovation Centre, the summit focussed on driving the creation and growth of companies from its world-class research base.

The Deputy First Minister said: “Building a thriving, growing economy means supporting entrepreneurs at every stage of their journey - from the first spark of an idea through to growth and scale.

“Positioning Scotland as a globally competitive, innovation-led economy requires us to have the right people, skills and infrastructure.

“The Life Sciences Accommodation Programme is a bold commitment which demonstrates the public sector’s commitment to helping ensure next generation of business founders has every opportunity to not just to start in Scotland, but to expand, succeed and stay.”