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28/06/07
Pessina and Baker launch Boots Centre for Innovation
Alliance Boots’ Chief Executive Richard Baker and Chairman Stefano Pessina led the guest speakers at the London launch of the Boots Centre for Innovation on 28th June. Both paid great tribute to the Centre and highlighted its significance in Boots’ long-term strategy for unique own-brand healthcare products.
The Boots Centre for Innovation is unlike any innovation hub in existence. Based at Swansea University’s Institute for Life Science, the Centre will help independent enterprises develop new products for Boots and Alliance Unichem stores. As well as offering extensive commercial support to each of these small healthcare technology companies, it provides access to significant funding through venture capital firm Longbow Capital and the potential of distribution across Alliance Boots’ ever-growing international network.
Boots has invested £3million into the Centre and the company believes that the prospect of distribution throughout Alliance Boots’ massive international network will attract the most talented inventors to create exciting new products for Boots. As last Thursday’s event revealed, the management team is already attracting ideas from around the world including China, South Africa, America and Denmark.
Longbow Capital has set up a Healthcare Fund to support promising ventures emerging from the Centre. This Fund allows private individuals to invest in early stage companies which are working on future products for Alliance Boots stores. Senior Partner at Longbow Capital Edward Beckett also spoke at Thursday’s event; reminding the audience of the small beginnings of the world’s greatest healthcare companies and the unique opportunity this early stage investment presents.
Professor Marc Clement, Deputy Chairman of the Boots Centre for Innovation and Vice Chancellor of the University of Wales also spoke at the event which was held at Park Lane’s Cumberland Hotel. Professor Clement used his position as one of the world’s most respected experts on innovation to talk about the unique opportunities the Centre offers to entrepreneurs. Speaking at the event, Richard Baker said that this exciting new step in Boots’ strategy for product development was essential to help Boots build on its reputation for excellence:
“Trust has been built in our long history and it’s the main plank of our efforts in putting healthcare back into the core business and giving customers a good reason to visit our stores. If you want to continue to give people products they can’t get anywhere else, then we have to invest – the hard work starts now.”
Stefano Pessina said that the Centre was part of the company’s strategy to become a global leader in the health services and beauty market. He said:
“We are committed to the long-term expansion of the company, but expansion is not just about mergers and acquisitions. Most of the work takes place behind the scenes and internal growth is just as important as external".
Mr Pessina ended the event by paying tribute to former Chairman of Boots Sir Nigel Rudd who also attended the event and supported the set-up of the Boots centre for Innovation from its very first inception:
“I would like to thank Sir Nigel Rudd for all his hard work on this venture. Without him, the creation of the Centre would not be possible.”
Thursday 28th June 2007
Alliance Boots’ Chief Executive Richard Baker and Chairman Stefano Pessina led the guest speakers at the London launch of the Boots Centre for Innovation on 28th June. Both paid great tribute to the Centre and highlighted its significance in Boots’ long-term strategy for unique own-brand healthcare products.
The Boots Centre for Innovation is unlike any innovation hub in existence. Based at Swansea University’s Institute for Life Science, the Centre will help independent enterprises develop new products for Boots and Alliance Unichem stores. As well as offering extensive commercial support to each of these small healthcare technology companies, it provides access to significant funding through venture capital firm Longbow Capital and the potential of distribution across Alliance Boots’ ever-growing international network.
Boots has invested £3million into the Centre and the company believes that the prospect of distribution throughout Alliance Boots’ massive international network will attract the most talented inventors to create exciting new products for Boots. As last Thursday’s event revealed, the management team is already attracting ideas from around the world including China, South Africa, America and Denmark.
Longbow Capital has set up a Healthcare Fund to support promising ventures emerging from the Centre. This Fund allows private individuals to invest in early stage companies which are working on future products for Alliance Boots stores. Senior Partner at Longbow Capital Edward Beckett also spoke at Thursday’s event; reminding the audience of the small beginnings of the world’s greatest healthcare companies and the unique opportunity this early stage investment presents.
Professor Marc Clement, Deputy Chairman of the Boots Centre for Innovation and Vice Chancellor of the University of Wales also spoke at the event which was held at Park Lane’s Cumberland Hotel. Professor Clement used his position as one of the world’s most respected experts on innovation to talk about the unique opportunities the Centre offers to entrepreneurs. Speaking at the event, Richard Baker said that this exciting new step in Boots’ strategy for product development was essential to help Boots build on its reputation for excellence:
“Trust has been built in our long history and it’s the main plank of our efforts in putting healthcare back into the core business and giving customers a good reason to visit our stores. If you want to continue to give people products they can’t get anywhere else, then we have to invest – the hard work starts now.”
Stefano Pessina said that the Centre was part of the company’s strategy to become a global leader in the health services and beauty market. He said:
“We are committed to the long-term expansion of the company, but expansion is not just about mergers and acquisitions. Most of the work takes place behind the scenes and internal growth is just as important as external".
Mr Pessina ended the event by paying tribute to former Chairman of Boots Sir Nigel Rudd who also attended the event and supported the set-up of the Boots centre for Innovation from its very first inception:
“I would like to thank Sir Nigel Rudd for all his hard work on this venture. Without him, the creation of the Centre would not be possible.”
Thursday 28th June 2007
A member of Alliance Boots