Biotech sector gets £11m boost from Scottish Government

The Industrial Biotechnology Innovation Centre will receive the funds over five years.

Biotech: Could be worth £130m to economy (file pic).
Biotech: Could be worth £130m to economy (file pic).

The Scottish Government has announced an £11m investment in the industrial biotechnology (IB) sector.

The Industrial Biotechnology Innovation Centre (IBioIC) will receive the funds over five years as part of a national plan to drive the sector forward.

Industrial biotechnology is the use of biological sources to produce or process materials, chemicals or energy.

The innovation centre – whose members include multinational companies and public-sector organisations – facilitates collaboration between industry and academia to bring these products and processes closer to commercial reality.

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Ivan McKee, minister for trade, investment and innovation, said: “Today’s investment from the Scottish Funding Council, Scottish Enterprise and Highlands and Islands Enterprise builds on the £120m already invested in Scotland’s eight innovation centres which are already having a transformational effect on our economy.

“I am pleased to confirm that the Scottish Government, through our national agencies, is able to invest £11.1m to support the IBioIC to drive forward Scotland’s industrial biotechnology sector.

“This funding has the potential to boost Scotland’s economy by £130m and create over 1400 jobs.”

Dame Anne Glover, chair of the IBioIC governing board, said: “IB is an enabling technology, which underpins innovation in multiple sectors, and can contribute to reducing greenhouse gas emissions and the use of fossil fuels, as well as supporting sustainable production.

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“IBioIC is, therefore, wonderfully positioned for a successful future in delivering significant value for the Scottish Government, businesses and general public.”


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