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Start up lessons for Pfizer boffins

Scientists get lessons in start-up business as the American drug giant prepares to close its Kent research centre — putting 2,000 jobs at risk

Venture-capital investors will step in this week to try to salvage some of the 2,000 jobs that could be lost at the Kent research centre of Pfizer, the American drug giant.

A delegation will hold a two-day teach-in at the site in Sandwich to help scientists affected by the planned closure turn their drug development work into new businesses.

Those making presentations at the event, organised by the British Venture Capital Association (BVCA), will include lawyers and representatives from investment firms. They will advise the scientists on how they can best convert their ideas into start-up companies.

It is likely that Pfizer would want to take a stake in any enterprises that are set up by the scientists if their ventures are based on research carried out at Sandwich.

If there is sufficient staff interest, the BVCA will launch a three- or six-month programme to help workers realise their commercial ambitions.

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Last month, Pfizer revealed plans to quit Sandwich, the European headquarters for its research operations and best known as the place where the sex drug Viagra was discovered. The decision affects up to 2,400 staff.

The pharmaceutical group has said that while several hundred workers will be redeployed elsewhere, the majority face redundancy unless another organisation takes over the facility.