Business Secretary Vince Cable has unveiled the winners of a £20 million competition to bring innovative biotechnology projects to market.
He made the announcement during a visit to one of the winning companies, Edinburgh-based Ingenza.
23 projects, ranging from making biofuel from household waste to using bacteria to make the building blocks for new medicines, will share almost £20 million in grant funding from the Industrial Biotechnology Catalyst.
A catalyst for innovation
The Catalyst was set up in January 2014 to support UK researchers and companies to work together to bring their biotechnology innovations to market and to help cement the UK’s position as a world leader in this sector.
It is funded by Innovate UK, the Biotechnology and Biological Sciences Research Council and the Engineering and Physical Sciences Research Council
Vince Cable said:
Whether it’s developing new antibiotics or producing plastics from plants, this funding will help our talented researchers across the UK continue to bring their innovative ideas to market.
The government is committed to supporting this emerging sector as part of our science and innovation strategy and this additional £20 million through the Industrial Biotechnology Catalyst will help cement the UK’s position as a world leader in this sector.