New fund links biotech firms to universities
A new fund will support Scotland’s biotech growth firms with grants of up to £10,000 to help develop access to university-based facilities.
Launched by the Industrial Biotechnology Innovation Centre (IBioIC) the Facilities Access Fund is believed to be the first of its kind available to the sector.
Projects must be led by an industrial partner and can cover various biotechnology applications such as agritech, food and drink, textiles and waste management.
Liz Fletcher, director of business engagement at IBioIC, said: “Developing bio-based alternatives represents an important step in our move away from petrochemicals and carbon-intensive feedstocks, and will make manufacturing much more sustainable across a range of sectors.
“This fund is designed to support companies looking to unlock these opportunities by leveraging local assets.
“We know that our members – particularly [small and medium-sized enterprises] – have been calling for support of this kind, which can often be one of the costliest elements of an innovation project.”