What are the benefits of having a blend of life science, technology, and quantum occupiers within a park like OTP?
History’s biggest innovations often come through the transfer and exchange of ideas between different people. The principal benefit of having a blend of life science and technology occupiers is that it allows for collaboration at the intersection of various disciplines. Many of the complex challenges in society today require a collaborative approach, which can only be achieved by bringing together experts from different fields. Providing an environment in which this can take place is crucial.
The increased diversity of the talent pool at the Park will lead to greater creativity, innovation, and productivity within the UK. On a more local level, a park with a diverse occupier base should create jobs and attract investment to the location.
Are you seeing an increased convergence of the life science and technology industries? What role do you think quantum computing will play in this?
The boundaries between tech and life science are becoming increasingly blurred. One example would be in the field of drug discovery, where tech, AI, quantum, and robotics are all having a profound effect in improving success rates and shortening timescales in what is a notoriously laborious and lengthy process.
It is getting a lot harder to clearly discern what is a life sciences company and what is a technology company, and that’s no bad thing. More efficient processes mean we can get greater research output, which will ultimately pay significant dividends for both economic progress and health outcomes.
What macro-level infrastructure is needed to nurture Britain’s quantum computing industry?
We need to see a continued and augmented commitment to government funding in the sector.
The signs are encouraging. The government recently announced an investment of £45 million into the quantum sector as part of its commitment to transforming the UK into a quantum-enabled economy by 2033. The construction of the new facility at Harwell for the National Quantum Computing Centre is another good indicator of the strength of investment in the sector. However, more support will likely be needed if we are to fully unlock the industry’s potential.
Investment in, and improvement of, the UK’s power network will be necessary if it is not to become a limiting factor in the growth of the quantum sector. Quantum technologies can be power-hungry, largely because of the requirement for cryogenic cooling to achieve the near absolute zero temperatures required for superconducting qubits.
Housing is also critical. If the sector is to flourish, then there needs to be affordable, accessible housing options to accommodate the young talent that will take these businesses forward. Oxford, Cambridge, and central London—the most significant regions for the life sciences and technology industries in the country—have some of the most expensive housing stock in the world as a proportion of income, which represents a significant barrier to entry for firms looking to establish themselves within the existing clusters.
Is the UK’s existing grid infrastructure an obstacle to success?
Undoubtedly. Lack of availability of power is a nationwide problem and a barrier to development. The issue is not so much a lack of power at a national level but rather in getting the power to the right places. The UK government has committed to investing in sustainable renewable energy sources such as wind, solar, and nuclear, but the grid infrastructure needs significant investment to distribute the power more efficiently.
What other regions are you looking at? Why are they interesting?
Our focus remains on the established Golden Triangle hubs of Oxford, Cambridge, and London’s Knowledge Quarter. We are firm believers in the Genius Loci theory that life science clusters form around world-class universities, teaching hospitals, and research establishments. While there are interesting developments taking place in other locations such as Manchester, Leeds, and Birmingham, they don’t yet have the critical mass or the supply/demand tension that we see in our core markets.
What effect could the quantum computing industry have on UK productivity?
The full scale of the potential impact of the quantum sector on UK productivity is not yet fully understood. There is no doubt that it will be transformational, as evidenced by the likes of Google, Microsoft, and Amazon investing heavily in the sector.
The tech giants have not been slow to realize the probable scale of the opportunity that quantum will present. Anything that relies on complex calculations stands to be revolutionized—be it pharma, genetics, finance, or logistics.
Lastly, if the UK can advance and maintain its reputation as a global leader in quantum, together with science, tech, and innovation generally, then it will continue to attract the investment, talent, and partnerships that drive productivity gains.
