Saudi deal for Oxford Innovation (From The Oxford Times)

Saudi deal for Oxford Innovation

4:50pm Wednesday 19th August 2009

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OXFORDSHIRE expertise is at the heart of a new high-tech business centre being built in Saudi Arabia.

The Biotechnology Business Incubator in Riyadh will be set up and managed by Oxford Innovation, while the start-up team will be headed by Nigel Wild, former managing director of the Oxford Biobusiness Centre in Littlemore. Executive director will be Barry Wheatley, outgoing chairman of the Oxfordshire branch of the Federation of Small Businesses.

The incubator, which will have 14 labs and facilities for start-up biotech businesses, is the first to be built in Saudi Arabia as the country looks to diversify from the oil industry.

Dr David Kingham, manager of the project for Oxford Innovation, said: “Our expertise in biotechnology business incubation, built up over more than 15 years, can help our Saudi colleagues to succeed rapidly in growing new businesses.

“We can also see opportunities for joint ventures between UK businesses and Saudi scientists to tackle major health, environmental and agricultural challenges in Saudi Arabia and the Gulf States.”

Oxford Innovation, which runs 15 innovation centres in the UK providing space for more than 400 high-tech firms, was appointed by the King Abdulaziz City for Science and Technology (KACST).

Work has started on fitting out a new building within the King Fahad Medical City near the centre of Riyadh.

Mr Wheatley, who was previously managing director of Oxford Bio-Innovation, a spin-out from Oxford Brookes University, will be based in Riyadh from later this year when the incubator opens.

Mr Wild, who will be offering ongoing support to the project as well as heading the start-up team, added: “This appointment is an accolade for the strength in breadth and depth of the biotechnology sector in Oxfordshire.”

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