New funding to aid bioeconomy

THE Industrial Biotechnology Innovation Centre (IBioIC) has launched a new fund to aid biotech companies, help expand Scotland’s bioeconomy, and unlock growth opportunities.

IBioIC’s Facilities Access Fund is designed to ease access to Scottish university-based facilities – including IBioIC’s two scaleup centres – which are critical to developing new bio-based processes and materials. To support critical research and development projects, IBioIC will contribute up to £10,000 (US$13,559) towards university facility service fees, enabling access to specialist facilities, equipment, and resources. As well as timely access to facilities, businesses will also benefit from expertise vital to accelerate innovations.

IBioIC says the funding is believed to be the first of its kind available to the sector.

Applicant projects must be led by an industrial partner and can cover a range of biotech applications such as biorefining, biomanufacturing, food and drink, textiles and agritech, and waste management.

IBioIC is encouraging companies looking to benefit from the fund to get in touch to discuss their applications first, before their submissions are assessed on their economic contribution, technical viability, and additional benefits for Scotland – such as job creation and environmental impact.

Liz Fletcher, Director of Business Engagement and Operations at IBioIC, said: “By enabling companies to access the unique and world-class facilities, equipment and expertise across Scotland’s universities that are critical to research and development, we can help to expand Scotland’s bioeconomy as we head towards 2045 net-zero targets.

“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.”