Manchester Science Partnerships' value surges to £58m
The value of UK’s leading science and technology parks operator Manchester Science Partnerships grew by 33 per cent to almost £60m last year.
MSP hailed its ‘strong performance’ creating collaborative and engaging environments across its estate – supporting the growth of innovative science and technology.
Notable growth was driven by existing customers flourishing and expanding operations, and increasing demand from new occupiers.
The company’s accounts for the year to September 2016 show a 33% surge in net worth to £58.5m (2015: £44m).
Chief Executive Rowena Burns said: “MSP’s ownership structure and relationship with the city is unique, and gives us the opportunity to play a pivotal role in delivering growth and high value jobs in the knowledge economy.
“The international interest in the city region was palpable recently, at both MIPIM in Cannes, and at South by Southwest in Texas. It will only intensify as Manchester’s national Internet of Things demonstrator CityVerve gathers pace and the health devolution agenda advances.”
She added: “We believe in the power of both partnerships and place and both were evidenced in our successful bid for £2m of funding to create the Manchester Tech Hub within Corridor Manchester, the city’s Innovation District.”
Working alongside partner organisations Manchester Digital, Complete Resourcing, the University of Manchester and Manchester Metropolitan University, MSP will create a comprehensive package of services to support the growth of businesses located in the Tech Hub; providing access to world class talent, skills development and introductions to an active and engaged investor base.
A recent study by Tech North highlighted the important role MSP is playing in the rapidly-growing Manchester digital economy.
Manchester Science Park alone is home to more than 170 companies in the life science, health-tech, biotech, ICT, digital and creative sectors.
Rowena Burns added: “The Manchester digital economy is enjoying strong growth with a GVA of nearly £3bn, and dynamic businesses like Cisco and Digital Bridge powering the city region forward.
“2017 is going to be a landmark year for MSP and digital enterprise in Manchester with the opening of the Bright Building – the first new build on Manchester Science Park in more than 15 years.
“In addition to providing a HQ for CityVerve, it will be one of the most tech-enabled buildings in Europe and home to the Mi-IDEA innovation centre; a partnership with Cisco to provide post-accelerator support to SMEs working in technology and digital health sectors.”
Occupancy levels at MSP’s Corridor Manchester operations hit 94 per cent in the period, underlining the appeal of locating in such close proximity to MSP’s partner hospitals and universities.