North West business briefs: Medicines Discovery Catapult; Electricity NW; Liverpool One; Very Group; Quality Time PA Services
Medicines Discovery Catapult (MDC) and We Share Ventures have embarked on a joint venture, piloting an innovative funding model aimed at opening new funding opportunities for early-stage medicines discovery.
This impact-driven revolving funding model is the first of its kind in the sector and has the potential to create and sustain funding opportunities for medicines discovery start-ups focused on patient impact.
The pilot brings together We Share’s innovative impact-driven revolving funding model with MDC Syndicate’s programme, enabling promising start-ups in the medicine discovery space access to long-term capital in the early phases of their growth. This approach has the potential to drive new treatments that could change the lives of vast numbers of people, whose clinical needs are currently not being met.
MDC, based on Alderley Park in Cheshire, will undertake due diligence, in collaboration with its syndicate networks, to identify innovative and scientifically robust projects with the potential to address patient need, while We Share will be responsible for assessing business and funding models to ensure selected start-ups have the best chance of success. At least two projects that demonstrate high potential to create patient impact will be selected and added to We Share’s philanthropic funding platform to secure funding and join the We Share community
Professor Chris Molloy, CEO, Medicines Discovery Catapult, said: “Impact investment is an ideal source of funding for medicines discovery. It is long term, people-centred, scalable and accessible to all. This fits and fuels the patient-centred R&D engine that the syndicates have pioneered, and is an exciting innovation in drug discovery.”
Edward de Jager, founder of We Share Ventures and chairman of the board, Unknown Group, said: “Despite its many successes, the traditional model of utilising venture capital to fund projects into medicines discovery cannot cater for every area of research, especially in the early stages of their development. Some areas require a different model to provide them with the funding they need to produce ground-breaking research that can ultimately add great societal and economic benefits. Our collaboration with MDC does just that and we are excited to partner with such a reputable organisation, drive innovation in medicine discovery and support early stage medicines developers for the unmet needs of the patients.”
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Solar power
Electricity North West has joined the Race to Zero campaign, a UN-backed coalition of more than 3,000 global leading companies which are focused on addressing the climate emergency.
The Stockport-based network operator has now been included as a signatory to the list of companies taking action on the science-based targets initiative (SBTi) and the list of leaders on the UN Global Compact website. The next step is to develop science-based targets for validation against the latest SBTi criteria. These will be consistent with keeping global warming to 1.5°C above pre-industrial levels – a key element of the Paris Climate Agreement and the latest IPCC report which was released this week.
In 2019 Electricity North West launched its Leading the North West to Zero Carbon plan, which outlined how it plans to help reduce carbon emissions in the region and how it aims to reach zero carbon by 2038. As part of the plan, the network operator also committed to invest £63.5m during 2019-23 to drive down its own carbon emissions and help businesses, customers and colleagues do the same. The plan supports the region’s move towards net zero, with Greater Manchester aiming to achieve their own Net Zero ambitions by 2038 and Cumbria targeting 2037.
Steve Cox, engineering and technical director at Electricity North West, said: “Today’s report from the IPCC makes it clear that we need to act urgently to tackle climate change. As the network operator, we know the scale of the challenge ahead and are committed to investing in the network to ensure that there’s capacity for the North West to adopt the changes needed to achieve its ambitious targets.
“As a business, we have a responsibility to play our part and that’s why we’ve set ourselves the target to achieve net zero by 2038. Joining the Race to Zero campaign and working with SBTi will not only ensure that our roadmap to achieving our carbon reduction ambitions is robust, but will help us accelerate our work to lead the North West’s transition to Net Zero.”
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The TIC team
Retail centre Liverpool One is the new location of the city’s Tourist Information Centre (TIC), which forms part of the official network of England-wide tourist offices recognised by Visit England.
The TIC opened on August 9, and is located in Liverpool One’s former information centre on Wall Street, which was reconfigured for its new role as the focal point for visitors to Liverpool City Region. The Liverpool One TIC will be staffed by four experts from Liverpool City Council.
The Tourist Information Centre will act as a one stop shop for visitors, offering a host of services including, city and event information, tour and attractions tickets, city and shopping maps and a range of City of Liverpool merchandise.
Liverpool’s cabinet member for culture and visitor economy, Cllr Harry Doyle, said: “Tourism has long played a key role in Liverpool City Region’s economy, with visitors from across the world seeking to enjoy the city’s unique atmosphere, heritage and range of facilities. Liverpool One is a vital part of the offer and attracts a huge amount of people, so it made sense to create a new Tourist Information Centre in the heart of the destination. While there is a lot of work to do to rebuild tourism in the region, we are in the perfect location with the right partner for us to begin that journey.”
Donna Howitt, place strategy director at Liverpool One, said: “Throughout the pandemic, the city has worked together to ensure everyone thrives in the long term. This new partnership with Liverpool City Council and Visit England is emblematic of that approach. We are delighted to be the new home of the Liverpool City Region Tourist Information Centre and proud to be playing a central role in welcoming back visitors to the city.”
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The Very Group
The Very Group, operator of online retailers Very.co.uk and Littlewoods.com, has welcomed 11 new recruits to its customer care, tech bar and colleague experience teams as part of the Government’s Kickstart scheme to improve opportunities for young people at risk of long term unemployment.
The roles, which were open via Job Centre Plus to 16- to 24-year-olds on Universal Credit, will provide valuable work experience at Very’s Liverpool-based HQ over the next six months. Very will supplement the ‘Kickstarters’ Government-funded wage, and expects a number of the new recruits to have the opportunity to apply for permanent roles at the end of their placements.
The programme, which began on July 26, will see the Kickstarters learn the ins and outs of their new roles, alongside a range of skills to support their future employability and set them up for long term success. This includes an initial assessment of each individual’s requirements, followed by a tailored training schedule to build on areas of strength and develop new capabilities. The Kickstarters will be supported by their line managers, a personal mentor and a buddy from Very.
To deliver the programme, the retailer has partnered with The Prince’s Trust, which will provide the Kickstart colleagues with employability webinars, one-to-one pastoral support and inspirational talks from Prince’s Trust Young Ambassadors, as well as helping them with their next steps post-placement. In addition, The Trust will run training sessions to support Very’s Kickstart mentors, so they can best support the young people on the programme.
Sarah Willett, chief people officer at The Very Group, said: “We’ve been so impressed by our new Kickstart colleagues’ energy, positivity and willingness to learn during their first couple of weeks. Young people have so much to offer and the right opportunities at this age can make all the difference to their lives and careers. We’re looking forward to seeing them grow into their new roles over the next six months.”
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Catherine Cocklin
A Lancashire woman who set up a personal assistant business just as lockdown hit is now in the process of recruiting her own team after gaining more than 30 clients with the help of Boost, Lancashire’s Business Growth Hub.
Quality Time PA Services, a virtual assistant service, is the brainchild of former project co-ordinator and office manager Catherine Cocklin. It offers a wide range of online business support services from invoicing and expense management, email and diary management to copy writing, file management, document creation and proofreading.
Catherine said: “The Boost workshops gave me many practical tools to help set up my business. It was also great to meet other businesses in a similar position to me. The planning tools which were provided during the programme were particularly helpful resources.”
Boost is Lancashire’s Business Growth Hub and is led by the Lancashire LEP (Local Enterprise Partnership) and Lancashire County Council and supported by funding from the European Regional Development Fund (ERDF). Boost’s fully funded Flying Start Programme is designed to support individuals and SMEs in Lancashire achieve their growth aspirations and be better equipped to deal with challenges in areas such as sales, marketing, finance, business planning and recruitment.
It took nine months for Catherine’s business to begin to recover after several setbacks during lockdown, but she has now grown from earning zero income from the business, to matching her salary from her previous employment, working fewer hours. After starting in 2019 with one client, she now has 33. They include business coaches, tradesmen, recruitment consultants, marketing professionals and personal trainers, and Catherine is now looking to engage a team of virtual assistants to expand her business. She said: “My plan for the next three to five years is to grow a team of reliable virtual assistants to work with me. I want to be so busy I can help them grow, too.”
