Press release -
Umeå’s booming life science industry
The life science industry in Umeå is booming. Employment has risen by more than 17 per cent per year and life science companies have attracted SEK 230 million in equity investment over the past two and a half years.
“Two years ago we set a goal that the life science industry in Umeå would generate more than SEK 1 billion and add more than 500 jobs by 2030. At today’s rate we will far exceed this goal”, says Jennie Ekbeck, CEO of Umeå Biotech Incubator (UBI).
UBI supports life science companies from the early conceptual stages to forming market-ready companies - providing help with financing, premises and advice from experienced business coaches.
Right now UBI is participating in an EU project called Life Science Engine v. 2.0, which aims to create the right conditions for life science companies to thrive in Umeå. The project will end in December this year.
“In all our previous EU projects we set high targets when we started, and every time we have exceeded them. We know we can achieve anything we set our minds to. We have incredible drive and are a flexible and close-knit organisation”, says Jennie Ekbeck.
Despite the fact there are six months left until the end of the project, four of the six intermediate goals have not only been achieved but exceeded.
Companies linked to UBI attracted SEK 91.4 million in equity investment between 2019 and 2020, and since the turn of the year this upwards trend has only strengthened. BiopharmaceuticalcompanyLipum raised SEK 85 million through a new share issue and Lipigon Pharmaceuticals attracted SEK 50 million in new investment. The result is that life science companies in Umeå have raised just over SEK 230 million in equity since UBI's EU project began.
“These figures are fantastic and represent a real milestone for us. They prove once again that Umeå is an attractive place to work with amazing companies that appeal to local, national and international investors”, says Jennie Ekbeck.
Employment in the life science industry has also increased, with 44 new positions created - 35 of which have been full-time positions since 2019. In recent years employment in the region’s life sciences sector has risen by almost 17 per cent .
As part of the project, Umeå Biotech Incubator has focused on strengthening the ability of life science companies to find and recruit talent. The project has worked with the marketing of Umeå nationally in order to help companies attract expertise from all over Sweden. Last year the hashtag # lifesciencejobbumeå was introduced on Linkedin, and today it has has over 200 followers.
“Diamyd Medical establishing a facility for vaccine production here in Umeå was one of many positive things that happened last year, which of course benefits the industry as a whole. It is important to show the rest of Sweden that Umeå is a great place to be. A place where employees can get rewarding and highly-skilled jobs and thrive in a vibrant, growing city”, says Jennie Ekbeck.
UBI’s premises at Tvistevägen 48, where startup companies are able to rent one or more offices, are another step towards creating the ideal conditions for companies to grow in Umeå. And right now UBI is tackling an even bigger challenge - the city’s lack of laboratory facilities.
The laboratory at Umeå Biotech Incubator is currently at full capacity. Nordic Biomarker has just moved into its purpose-built 4,500 square meter premises in Umestan and vacated a 1,200 square metre facility that was quickly taken over by Agrisera.
“It is vitally important that the conditions are created to build more laboratory facilities in Umeå - both for research as well as for development and production companies”, says Jennie Ekbeck.
She continues:
“In ten years from now the need for facilities for life science companies will amount to more than 15,000 square metres. If we do not start building now, the risk is that companies will leave Umeå if the conditions for growth are not in place”.
With six months of the EU project left, the focus is on successfully achieving the project’s targets and looking forward to the challenges of the future.
“Right now we’re determined to get the very most out of this project and show everyone what we are capable of. And in the next project we’re going to set the bar even higher”!
For more information please contact:
Jennie Ekbeck
CEO, Umeå Biotech Incubator
+46 90-15 49 77
jennie.ekbeck@ubi.se
Related links
Topics
Categories
Umeå Biotech Incubator (UBI) is one of Sweden’s state-of-the-art business incubators within the life sciences. We help researchers to use their data to the benefit of patients and citizens, improving their health. We support and train entrepreneurs in the fields of pharmaceuticals, diagnostics and medical engineering, and act as a bridge between academia, medicine and the business community.
Umeå Biotech Incubator
