This report was published on healthandcare.scot

A new fund is being launched to support biotechnology scientists across Scotland’s universities to commercialise their research by forming spin out companies.

Scotland’s Industrial Biotechnology Innovation Centre (IBioIC) is encouraging researchers to apply for up to £20,000 or one third of the total costs involved in the next stage of scaling up their ideas from laboratory to marketplace.

Biotechnologists use plant-based and waste resources to produce or process materials, chemicals and energy, including providing sustainable alternatives to fossil fuels and new materials for use in medicines, consumer goods and packaging.

The sector, which currently has a turnover of around £750m is seen as having a central role in helping Scotland reach net zero emissions.

IBioIC acts as a support organisation working across industry, academia and government to help build the sector towards a goal of Scotland having 200 industrial biotechnology companies and a turnover of at least £900m by 2025.

Director of Business Engagement and Operations at IBioIC, Liz Fletcher says the hope is to harness good ideas and broaden the scope of the sector:

“This will be the first time we have delivered a support programme specifically aimed at the academic community, who are often working on ideas that would make a great foundation for a spin-out company.

“Turning these concepts into commercial businesses represents a significant opportunity for the continued growth of Scotland’s bioeconomy.

“There is much more to industrial biotechnology than its links with the chemicals industry and we are keen to support proposals across a breadth of sectors and applications.

“Spin-out companies could operate in a wide variety of sectors, ranging from food and drink, textiles and construction to healthcare, vaccine development or marine and aquaculture.

“We are keen to engage with researchers at the earliest possible stage of the funding application and work together to develop ideas and create strong proposals for funding that can ultimately fuel successful new businesses.”

IBioIC members are already working to use plant and waste materials to create solutions across a wide range of industrial, manufacturing and food challenges including developing sustainable seaweed farming, developing bioreactor systems to grow sales, to produce antibodies and antivenom serum, creating alternatives to meat and using waste from shellfish companies to develop fully compostablereplacements for food wrapping.

Anyone interested in applying for funding is invited to get in touch with the IBioIC projects team to discuss their proposal before submitting the full application: projects@ibioic.com

Further details can be found at: https://www.ibioic.com/funding-calls-database/spin-out-funding.