CEO Update - 23 September 2024
The political party conference season is in full swing, and the BIA is out in force in Liverpool for the Labour Party conference this week. I'm heartened to see the focus in ministerial speeches and the fringe on topics close to our hearts. Industrial strategy, how to get growth in innovative industries and how to unlock pensions funds to support productive finance all feature prominently in the discussion.
We're doing our bit through some thoughtful fringe events which I’ll comment on in forthcoming communications.
Steve Bates OBE
CEO, BIA
The Chancellor Rachel Reeves has highlighted her plans to hire additional staff into HMRC. Tax inspectors are not always welcomed but the backlog in R&D tax credits shows how even this announcement could benefit BIA members by speeding them up.
Government seeking industry experts for high-profile roles
And it’s not just tax inspectors that the UK government is hiring - there are currently several board and part-time roles being advertised which afford the opportunity to form policy and make a significant impact at the national level. It's always helpful to our sector if life science knowledge is embedded in these government committees and councils and if you successfully apply the BIA stands ready to help and support you as a member in these roles. For instance, the Prime Minister seeks new science and technology leaders to join the Council for Science and Technology, with ten new members being sought for the government’s highest-level advisory council on science and technology, which directly advises the Prime Minister and cabinet – life sciences needs representation here.
Liberal Democrat conference
At the Liberal Democrat conference last week there was a strong focus on supporting small business and large infrastructure, placing the NHS as well as the climate and net zero agenda at the heart of Lib Dem policies.
Although there was limited discussion of the life sciences, a clear nod to our sector came from Sarah Olney, MP for Richmond Park and HM Treasury Spokesperson, at the Lib Dem business day. Sarah highlighted the importance of effective R&D funding and the role of R&D tax credits for innovation, saying it was a mistake to make cuts to them. According to her, strong R&D investment and tax credits are a key priority in any industrial strategy, next to strengthening the UK's regulatory system, addressing the climate crisis, and creating a thriving manufacturing sector by investing in the relevant skills.
West Streeting speech
The Health Secretary West Streeting stressed the need for the NHS to work with the private sector. He expressed his desire for the NHS to become ‘the best partner in the world for the life sciences sector.’ Streeting said that ‘fundamental’ to the government’s reform process would be a ‘public-private partnership'.
“Everyone can do something for women’s equality”
...this was the message espoused by Rachel Reeves last week as she backed the Invest in Women Taskforce. The core aim of the taskforce is to establish a funding pool of more than £250 million for female-founded businesses through private capital. The Department for Business and Trade has also published its annual Investing in Women Code, which finds that the 250 signatories of the Code are leading the way in addressing the finance gap between male and female entrepreneurs.
BIA’s Women in Biotech continues to build a vibrant network aiming to improve the underrepresentation in the biotech sector by inspiring and supporting women through core crossroads in their careers and highlighting areas of strategic importance such as investment and tech.
Last Wednesday, amidst panoramic views of Manchester from the KPMG offices, attendees gathered for our latest Women in Biotech event. Panellists discussed a variety of topics, ranging from the challenges and opportunities for retaining staff in the northwest to the importance of seeing female role models. This event allowed women and allies to come together, not just to gain inspiration from the panellists but also to network and share their own ideas about how to ensure women progress to senior leadership in the sector.
Our Women in Biotech mentoring programme is now open for 2025 cohort. Whether you are in the early stages of your career or C-suite level, we hope this programme will connect, support and inspire the incredible women in this sector. While we accept mentees from BIA member companies only, both member and non-member companies are welcome to apply as mentors.
London Life Sciences Week
After the UK government’s Investment Summit on 14 October and the U Budget on 30 October, the global focus on life science investment will be in London from 17-21 November. Global investors already have London in their diary that week as many come for the Jefferies Healthcare conference and then attend meetings and events around that banking conference – just as JPM week in San Francisco has outgrown just that banking conference. London in November is friendlier, cheaper, has better weather and is easier to do business at – and that’s why we’ve brought together everything that is happening in an easy-to-understand 'Time-Out-style' guide at www.lifesciencesweek.london
If you’ve got an event you want us to include, please get in touch – the buzz will be building over the next few weeks.
AI Airlock pilot call for applications
Applications are now open to the Medicines and Healthcare products Regulatory Agency (MHRA) to join the AI Airlock pilot. Four to six candidates will be chosen to form the pilot cohort. Details and how to get involved.
BIA Annual General Meeting (AGM) and Board elections
The BIA’s 2024 AGM will be held virtually from 4.30 pm to 5.15 pm on Tuesday 22 October 2024. Prior to that meeting the election for those candidates standing to be members of the BIA Board will be open.
Please follow this link to look at the candidates who are standing, read their statements and cast your company’s vote.
