Market

Fresh funding on offer for industrial biotech projects

Awards of up to £100,000 are set to be made in support of projects to help grow the industrial biotechnology sector in Scotland.

The latest offer of funding from the Industrial Biotechnology Innovation Centre (IBioIC) is open to any project in the sector, but there will be particular emphasis on those focused on agriculture and food and drink. Research teams must include partners from both academia and industry, and demonstrate a clear route to market for the technologies and products being developed.

Industrial biotechnology was identified as a key sector for decarbonisation and the transition to net zero in the national strategy for economic transformation published by the Scottish Government in March. Teams have until September 1 to submit proposals, with projects expected to begin early next year.

READ MORE: Funding boost for one of Scotland’s “most exciting” new medical technology companies

“Scotland has an opportunity to become a leader in the biotechnology field – particularly as we transition to net zero – and our role as an innovation centre is to support companies to take concepts and ideas to the next stage of becoming reality,” said Liz Fletcher, director of business engagement at IBioIC.

The current funding round is the sixth time the centre has granted awards through its Innovation Fund. To date the centre has supported more than 200 companies in bringing new processes and products to market, generating additional industry investment of almost £30 million and helping to support more than 3,000 jobs.

Ms Fletcher added: “Collaboration is central to the growth of the bioeconomy and successful projects in this funding call will benefit from access to facilities, additional support, and business development advice, alongside the valuable financial investment.”



Source link

Leave a Reply

Your email address will not be published.