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The Business Magazine July 2024
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True life science innovation requires a pan-European approach 

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Although many life sciences businesses choose the US as their home, global pharmaceutical companies are increasingly looking to Europe thanks to its world-class resources and talent. The continent is home to five of the world’s top ten life sciences universities, employee salaries are reasonable, and large-scale R&D projects can prove more profitable than in the US. 

Initiatives such as InvestEU’s Life Sciences Programme Loan scheme and grants of planning approval for new innovation hubs across Europe highlight government support of the sector, with world-leading pharma and biotech companies such as Novo Nordisk, Roche, Novartis, Sanofi, and GlaxoSmithKline all calling Europe home. With such abundant life sciences excellence across the continent, these businesses need infrastructure that supports their innovation and research and can open the door to further development, collaboration, and opportunities. 

Narrowing down the right location in Europe can be a tricky task. From construction to day-to-day operations, having the right real estate in the right place is essential for innovation. To maximise the speed to market and success rate of innovative businesses, customer-centric real estate models are vital. Real estate organisations are now behaving more holistically and collaboratively, working with public and private sector stakeholders in policy and commercial support to drive innovation. 

Beyond local life science developments, a pan-European approach can help us overcome common global challenges. This cross-border connectivity brings together innovative minds, partners, and clients to create a space for continent-wide collaboration, connecting with those further afield to unlock resources across research, knowledge, talent, and capital. These networks serve as communities for like-minded businesses and individuals and create links between the right people, both inside and outside of building walls. 

The value of pan-European collaboration is to create opportunities for people from different locations to meet each other, both digitally and physically, and create collaborative and symbiotic relationships. Not only do these networks drive transparency and keep all companies at the forefront of developments, but they also push companies to be more competitive and innovate at pace. This includes evolving internal operations and standards, with greater visibility of sustainability and ways to reduce emissions shared freely to promote best practices. 

Europe is uniquely poised to accelerate innovation in life sciences. With access to top-tier talent and facilities, true value will be unlocked through an integrated scientific community that transcends national borders. Gathering innovative businesses in built-for-purpose flexible real estate encourages collaboration and competition. And when all locations are connected, the sector can show true progress towards shared goals and ambitions. It’s simple – international challenges require international collaboration. 


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