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Government to invest £2.5 million in innovation for industrial biotechnology

17 Sep 2009

Government to invest £2.5 million in innovation for industrial biotechnology  

The Technology Strategy Board is to manage a £2.5 million investment programme on behalf of the Government aimed at stimulating innovation in the UK's industrial biotechnology sector, and is encouraging small and medium-sized companies to apply for funding.

The aim of the competition, which is funded by the Department for Business, Innovation and Skills (BIS), is to encourage the development and commercialisation of innovative processes that will generate high value chemicals through industrial biotechnology.

Through the competition, which opens today and closes on 19 November 2009, BIS will fund feasibility studies mainly for short-term projects, usually lasting up to six months, which are likely to cost up to £200,000.  Up to 75% funding may be made available for such studies, and applications from small and medium-sized companies (SMEs) would be particularly welcomed.  Applications can be made by single companies or collaborative consortia.

Explaining the background to the competition, Merlin Goldman, the Technology Strategy Board's Lead Technologist for the Biosciences, said: "BIS's Industrial Biotechnology Innovation and Growth Team recommended earlier this year that an Industrial Biotechnology Fund should be set up by the end of 2009.  This would provide industry, again focusing on SMEs, with access to demonstration facilities." 

"Through the fund, BIS has allocated £2.5m to support feasibility projects from this 2009 competition.  We anticipate that the successful demonstration, through this competition, of a process, feedstock or material using industrial biotechnology will lead directly to production-level activities within two to four years". Ends

Issued by
Claire Cunningham, Media Relations Manager , Technology Strategy Board
Tel: 01793 442901 , Mobile: 07554 115745, Email: claire.cunningham@tsb.gov.uk

Additional contact
Paul Whittemore, Head of Communications, Technology Strategy Board
Tel: 01793 442769, Mobile: 07824 599632, Email: paul.whittemore@tsb.gov.uk

For full press release including notes to editors please follow this link - Government to invest £2.5 million in innovation for industrial biotechnology  

 

 

Last updated on Friday 30 July 2010 at 14:24

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