Cresco Innovation has attended an international trade mission in America to help foster greater collaboration and trade opportunities between the Midlands and the USA.
Cresco CEO Jo Derbyshire was part of a delegation of Midlands Life Science companies that flew to the city of Mentor, in Northeast Ohio, on October 22-24.
The mission’s focus was to promote trade and investment between the Midlands and the USA, as part of a strategic collaboration between the two regions.
There was also the opportunity to attend the nearby Cleveland Clinic 2018 Medical Innovation Summit, now in its 17th year.
Northeast Ohio is a rapidly-growing centre of innovation in healthcare, medtech and bioscience, which is looking to encourage collaboration with companies and healthcare providers in their area on an international basis.
Both the city of Mentor and Medilink Midlands, a national health technology business support organisation, identified similarities and opportunities for closer working and collaboration, which led to a memorandum of understanding being signed in August 2018.
Medilink Midlands works alongside the Midlands Engine and other strategic alliances to support and promote life sciences across both the East and West Midlands.
Derbyshire said: “The trip to Ohio with Medilink East Midlands was hugely beneficial to Cresco.
“Our aim was to understand better how our clients might be able to access US markets, funding support and premises.
“It is clear that our companies will be pushing against an open door with our partners in Mentor, which is a real industrial powerhouse, accessing 60% pf the US market within a day’s drive of Cleveland.”
Real opportunity for Midlands businesses
Cresco made the trip to Northeast Ohio along with Adamson Jones IP Ltd, a dedicated intellectual property filing and prosecution practice with particular specialisms in the medical device, pharmaceuticals and bioscience fields, and Uvamed, which supplies the NHS with innovative products, including its trademarked Rainbow Trays, which are colour-coded anaesthetic trays for use in operating theatres by anaesthetists.
Also in attendance was Medilink Midlands director Keith Widdowson, on what was the first official visit of a Medilink Midlands representative to Mentor and which was part of the planned activities to forge stronger international ties between the two regions.
The city of Mentor is part of a cluster of more than 700 Life Science and biomedical companies, including world-leaders such as General Electric, Siemens, Philips, Toshiba, Hitachi, and STERIS.
Research by the Department for International Trade and the Office for Life Sciences (OLS) shows that the UK has the third-largest medical technology sector in Europe and the Midlands has the largest regional MedTech cluster in the UK.
Widdowson said: “Northeast Ohio is an attractive location for Midlands companies. It provides a real opportunity for businesses to get a low-cost foothold in the largest life sciences market in the world.
“The products and services provided by Midlands Life Science companies are in demand regionally, nationally and internationally. By forging relationships and partnerships, Midlands Life Science businesses can grow their operations and satisfy a global demand for regional excellence.
“We plan to reciprocate Mentor’s offer of a trade mission and will look to set up an opportunity for Med-Tech companies in Ohio to visit the Midlands next year, coinciding with the Med-Tech Innovation Expo in Birmingham in mid-May.”
Jo has a background in IP commercialisation, having spent more than 25 years in the innovation and enterprise sector. Jo is recognised in the industry for establishing the Loughborough Innovation Centre, where she was the managing director for 15 years.