London-based GlaxoSmithKline (GSK) is teaming up with the UK government, the East of England Development (EEDA) agency and the Wellcome Trust to pioneer a new model of open innovation. With an initial funding of almost £38 ($63) million, the biotech campus will be based at GSK's Stevenage site and aims to attract early-stage companies. GSK will invest £11 million, land and facilities; the government's Department of Business, Innovation and Skills will add nearly £12 million and the UK Technology Strategy Board, £5 million; the Wellcome Trust will put in around £6 million and EEDA, £4 million. Companies will have shared access to GSK's specialist skills, expertise and equipment, and operate on an open innovation model, with an emphasis on collaboration and knowledge sharing. “This will be the first open innovation campus in the pharma sector,” Hunter said. “This initiative is not just for GSK's benefit,” explained Jackie Hunter, the park's sponsor within GSK. “It is also about translating the UK's excellent science into bioscience companies.” She added that all pharma companies now have the stated intention of having more collaboration with biotechs, and it is hoped that the new park will provide an attractive location. Several companies have already expressed an interest, and, when complete, the park will house around 1,500 scientists.