Review of LSBAS: report for Scottish Enterprise Glasgow

The Life Sciences Business Advisory Service (LSBAS) aims to provide advice and support to aid in the formation, development and growth of life sciences companies in Scotland, with funding support from Scottish Enterprise (SE) and the European Regional Development Fund (ERDF). The evaluation aimed to assess the success, or otherwise, of the LSBAS Product to date, with a view to considering the continuation of the Product in future.

The study was conducted in five stages and included: desk research, consultations with stakeholders and fieldwork.

LSBAS has performed well against both SE and ERDF performance targets and although behind on some measures, this is largely a result of the timing, both of the evaluation itself and the time for impacts to accrue. The Product is on course to assist 150 organisations. 70% of the job creation target has been achieved and the target for £10m investment in companies looks likely to be reached. The expenditure is currently lower than anticipated and suggests that LSBAS has the potential to offer exceptional value for money with regard to public sector spend. Overall, the profile of LSBAS is positive, although there may be scope to raise its profile. It was felt that LSBAS had not taken full advantage of the opportunities available to promote itself. All the advisors' skills and inputs received high satisfaction ratings and feedback, with 85% of respondents believing that they have made excellent or good progress. The qualitative benefits reported include development of business skills, greater confidence in growth/survival/spin out and greater ability to meet any targets set.

Seven recommendations are made: it is strongly recommended that the LSBAS Product continues; using good news stories as a means of marketing the LSBAS Product should be considered; the support from the financial secondee should continue on a full-time basis; the project/company, advisor and Account or Relationship Manager must be clear of their roles and responsibilities at the outset of projects; additional advisors should not be recruited but those that leave should be replaced, preferably by someone with expertise in medical devices and an investment background; a dedicated administration person should be recruited to the LSBAS team; and SE and the LSBAS team should discuss the procedure regarding the application for further time beyond the cap placed on projects and companies in order to improve efficiency and ensure client needs are met effectively.