Scottish Business Week (3-7 October) is an opportunity to celebrate the innovation, resilience, and adaptability of homegrown enterprise in the pandemic recovery period, says InnoScot Health

Reflecting on the week’s opportunities for everyone from promising Scottish innovators to established businesses, Executive Chair of InnoScot Health, Graham Watson said: “Despite the pandemic, Scotland has shown that it remains strong and open for business – our entrepreneurial spirit remains undimmed.

“Of course, there are challenges still to navigate, including the cost-of-living crisis, yet the country continues to be innovative, agile, and adaptable both here and on the world stage – and many great ideas could start at Scottish Business Week thanks to the opportunities it offers.

“Since our inception two decades ago as a key NHS partner, InnoScot Health has formed seven spin out companies, evaluated over 2000 ideas, and successfully integrated 250 of them into healthcare settings in Scotland and around the world. We can clearly see that a strong pipeline of tomorrow’s leading healthcare innovations is still in evidence, and we should take great encouragement from that.”

This year’s Scottish Business Week is hosted in partnership with Scottish Enterprise, Highlands and Islands Enterprise, South of Scotland Enterprise, Skills Development Scotland, and sponsored by the British Business Bank.

The free, virtual programme – open to all existing businesses and to anyone thinking about starting one – includes inspirational speakers, webinars, masterclasses, and networking opportunities that offer support and guidance to help hone improved efficiency and build resilience.

Sessions will offer guidance on practical skills such as drawing up a business plan, preparing a social media strategy, and implementing new strategies for growth. There will also be webinars on current issues including starting up a business in Scotland, women in business, and exploring growth opportunities through digital transformation.

Commenting further on the successes of InnoScot Health, Watson added: “Indeed, we have seen many of our spin outs go from strength to strength.”

A 2002 spin out of NHS Lothian and InnoScot Health – the organisation’s first – Touch Bionics is a provider of world-leading prosthetic technologies designed to achieve positive outcomes for people with upper limb deficiencies. It was also the first company to develop an electrically powered prosthetic hand with five independently powered fingers and the company continues to be a pioneer in upper limb prosthetic solutions. In 2016 it was sold to Icelandic firm Ossur - a global leader in the development, production, and sale of non-invasive orthopaedics.

Expanding beyond its Scottish roots is also Clear Surgical – a 2013 spin out of NHS Ayrshire and Arran and InnoScot Health. The medical device company focusses on the design and manufacture of innovative medical devices for use in surgery and now operates globally within medical, dentistry and veterinary sectors.

Aurum Biosciences is a further InnoScot Health spin out company – this time in partnership with NHS Greater Glasgow and Clyde and the University of Glasgow – which continues to attract international investment.

The clinical-stage biopharmaceutical company develops novel therapeutics and diagnostics in areas of unmet clinical need. Its patented ABL-101 platform technology represents the first major advancement in the management of acute stroke patients in the past 20 years. The technology is being developed in other clinical indications such as inflammatory conditions, oncology, cardiovascular conditions, spinal cord injury and dementia.