Linking Texas to Life Sciences Industry Opportunities in the UK
Last month, a delegation from Britain, including members of the Association of British Healthcare Industries (ABHI), the Foreign and Commonwealth Office (FOC), and UK Trade & Investment (UKTI), visited Austin. The trip was a part of an 18-month program to build a relationship with the Texas healthcare system and to introduce their advanced medical technology in the state.
It is easy to see why the delegation identified Texas as the ‘soft landing’ for UK MedTech companies to establish themselves in the United States. Exporters see the US as a top priority, leading the delegation to focus on a single state with the right system and conditions for growth to then eventually expand to more states. With the highest number of hospitals of any US state and the seventh largest health economy in the world, Texas’ health and life sciences industries have great potential to grow in the coming years.
While Austin was one of four stops for the delegation (the others being San Antonio, Houston, and Dallas-Fort Worth), it was an integral part of their trade mission. Aside from being the State Capitol, Austin has devoted itself to a high-tech focus in medicine. Many MedTech companies are looking to Austin, especially with the development of the Innovation District surrounding the new Dell Medical School. This district is expected to bring the community together around science, innovation, and education. Businesses should see this development as a huge opportunity to build a relationship with the medical school and connect with its research.
Paul Benton, the International Director of ABHI, has announced the third business delegation from Britain to arrive in Austin for meetings on October 20-21, 2016. Their goal is to identify and establish opportunities for the development of new technologies and to cooperate with the industry sector both at home and abroad. This is highly beneficial to Texas MedTech companies, as they will have the opportunity to gain a competitive edge through insight of the European market for medical technology.
— Submitted by Colleen Anderson, WAC Austin Intern and Sophomore at Johns Hopkins University