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Ian Tomlinson Joins SBC Board as GlaxoSmithKline Representative Director
Date:10/19/2011

s backed by £38m of funding from its founding partners - GlaxoSmithKline, the Wellcome Trust, the Department for Business, Innovation and Skills, the Technology Strategy Board and the East of England Development Agency. Scheduled to open in Q1 2012, buildings in Phase 1 of the development consist of an Incubator, an Accelerator and a Hub, covering 60,000 sq ft of laboratory, office and networking space. The independent facility is expected to house a range of companies, from virtual and start-up firms to those which are more established. Located on the GlaxoSmithKline Stevenage site, Stevenage Bioscience Catalyst is in the unique position of operating in proximity to the expertise and resources of a major pharmaceutical company, close to both London and Cambridge. For more information, please go to http://www.stevenagecatalyst.com.

About Open Innovation

Firms using Open Innovation (OI) combine their own R&D with externally sourced ideas and expertise. OI is characterised by highly effective use of connections and networks to exchange knowledge and ideas, external partners being involved at all stages of product development, equitable win-win business relationships, and new business models to maximise the value of intellectual property and other assets.  Examples in various sectors have shown that the benefits of OI include reduced time to market for new products and services, access to new markets, improved innovation success rates and increased profits.  SBC will promote use of Open Innovation within the life sciences sector, connecting SMEs with an active network consisting of GlaxoSmithKline and its other stakeholders, academia, charities, other businesses and funding bodies.  The term 'Open Innovation' and related research into its practice has been developed extensively by Professor Henry Chesbrough, Executive Director of the Program in Open Innovation at the University of Cal
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SOURCE Stevenage Bioscience Catalyst
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