Innovative ideas sought for life sciences contest

A COMPETITION with a prize fund of £55,000 has been launched to attract innovative ideas for the city's BioQuarter.

It is hoped the initiative will bring in entries from scientists across the world and it has already received major sponsorship backing.

Medical innovations of varying types will be welcomed, with the judging panel to be chaired by life sciences entrepreneur Professor Walter Nimmo.

The winners will be announced in the summer.

The BioQuarter, situated beside the Edinburgh Royal Infirmary at Little France, will make Edinburgh one of the world's leading medical research sites as it expands over the next decade.

Prof Nimmo said: "New businesses are important to any economy. At a time when the Scottish economy has been hit by the recent recession, it is important that new businesses in fast-growing sectors such as life sciences should be given the opportunity to flourish."