Strong performance for science park
YORK SCIENCE PARK continues to go from strength to strength with the majority of its residents reporting an increase in turnover in the last 12 months.
Results from the park’s latest Annual Residents Survey reveal that while 54% of its residents only occupy up to 500 sq ft of space, and another 25% occupy between 500 – 1600 sq ft, 72% of them have reported an increase in turnover over the past year.
The survey is part of a programme of reports compiled by York Science Park to provide an overview of activity on the site and help it plan for the future.
This year 122 of the Science Park’s resident companies contributed to the survey, which is designed to measure both previous and future business performance and needs.
A strong focus on innovation was reported, with 49% of residents introducing a new product, service or licensed technology in the past year. These have included a wide range of items from appetite suppressing compounds from biotech company Optibiotix, to a knowledge management system for lawyers from Purple Frog and a unique music programme for early learners from Bumblebeats.
Growth is also strong with 39% of residents seeing their staff numbers increase in the last 12 months and 61% stating that they are planning to expand in the next year.
Evidence of international activity was also highlighted in the survey, with 22% of York Science Park residents having office space overseas, such as software company Simomics who have an operation in San Diego and StarCompliance who have offices in Washington DC and New York. Ambitions for growth through acquisitions and mergers has also been encouraging, with 10% stating they had been involved in such activity over the last year.
Tracey Smith, managing director, York Science Park said: “It is always fascinating to run this survey and be able to have an overview of how all the companies on York Science Park are performing. I am very encouraged to see such positive results and ambitions from our residents, who are focussed in the knowledge intensive areas of creative, digital media, IT and bioscience. As well as providing high specification space for established companies, one of our main remits is to provide flexible space and facilities for early stage and mid stage companies which enables them to grow. As these results show, with 61% planning to grow in the next 12 months, having this flexibility can be critical to their future success. Whilst some may choose to move elsewhere many will stay with us and we have the support and infrastructure in place to enable them to do this.”
Steve Brown, managing director of Make It York, the city’s new destination management organisation, said: “I am very encouraged to read the York Science Park Residents Survey results, which shows that innovation and entrepreneurship is alive and well in our city. The results also demonstrate what a vital role York Science Park plays in supporting and generating economic growth in York and North Yorkshire and we look forward to seeing it continue to fulfil this role and helping the city to prosper.”
