News / Deep Tech
New world-class deep tech hub for Bristol
An entrepreneur has unveiled “a bold and ambitious vision for the future of pioneering science” with the launch of a new world-class hub.
Dr Harry Destecroix has partnered with the University of Bristol to found custom-designed deep tech ecosystem Science Creates in a bid to tackle the 90 per cent failure rate for science-based startups.
Along with specialised incubator space in the new Unit DY facility – which is still under construction in Old Market – and the St Philip’s-based Unit DX, the project will offer a £15m early stage investment fund and network of strategic partners to help nurture science and engineering startups and spinouts.
Destecroix co-founded his own company, Ziylo, while studying for his PhD at the University of Bristol and experienced first-hand the lack of specialist facilities in the city to enable scientists to develop their ideas ready for the marketplace.
Dr Harry Destecroix believes Bristol has the economic potential to become a global deep tech hub – photo courtesy of Science Creates/Transatlantic PR
He and partners went on to sell the company to a pharmaceutical giant in a deal worth up to $800m in August 2018, enabling the scientist and entrepreneur to reinvest back into the city and realise his ambition to launch a ‘West Coast’ hub in the heart of Bristol.
“Where a discovery is made has a huge bearing on whether it’s successfully commercialised,” explains Destecroix.
“While founding my own startup, Ziylo, I became aware of just how many discoveries failed to emerge from the lab in Bristol alone. No matter the quality of the research and discovery, the right ecosystem is fundamental if we are going to challenge the global 90 per cent failure rate of science startups, and create many more successful ventures.
“We believe Bristol has the economic potential to become a global deep tech hub with its location, talent and its unique blend of diverse, pioneering and rebellious ingredients to change the world.”
Destecroix first set up Unit DX in collaboration with the University of Bristol in 2017 to commercialise companies like Ziylo, which aimed to develop one of the first smart insulins to help people suffering with diabetes.
The Science Creates ecosystem comprises incubators, with the opening of Unit DY enabling the ecosystem to support another 100 companies on top of the 37 in Unit DX, providing a potential 450 jobs.
A new Science Creates Ventures fund has launched with a £15m venture capital fund offering startup investment and the Science Creates Network is a portfolio of strategic partners, mentors and advisors specifically tailored to the needs of science and engineering startups.
The Science Creates ecosystem comprises incubators and a £15m venture capital fund- photo courtesy of Science Creates/Transatlantic PR
The aim is to help lead the global shift away from the US stronghold on deep tech innovation and foster homegrown talent.
Professor Hugh Brady, vice-chancellor and president at the University of Bristol, adds: “We are delighted to support the vision and help Science Creates to build a thriving deep tech ecosystem in our home city. Great scientists don’t always know how to be great entrepreneurs, but we’ve seen the impact specialist support can have in helping them access the finance, networks, skills, and investment opportunities they need.
“Working with Science Creates, we aim to support even more ground-breaking discoveries to progress outside the university walls, and thrive as successful commercial ventures that change our world for the better.”
Carolyn Porter, CEO, at discovery-stage biotech company Cytoseek – a spin-out from the University of Bristol – adds: “The people, their conviction and the vision behind Science Creates convinced me that Bristol has the potential to rival other technology hubs in the UK and worldwide.”
Main photo courtesy of Science Creates/Transatlantic PR
Read more: Team behind Bristol’s only science incubator set to expand into new premises
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