The Industrial Biotechnology Innovation Centre will invest in research projects at Scottish universities to support the creation of more spinouts.
The Industrial Biotechnology Innovation Centre (IBioIC), a Scottish state-backed hub that connects academia, industry and government, will invest up to £20,000 ($28,000) in research projects at Scottish universities, according to the Press and Journal.
The proof-of-concept grant can be up to a third of a project’s total value and it will be offered to researchers who want to launch a spinout within two years of receiving the funding.
IBioIC was created in 2014 to help Scotland reach a target of generating £900m in turnover across more than 200 biotech companies by 2025. Current turnover stands at more than £747m.
Liz Fletcher, director of business engagement and operations at IBioIC, said: “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 spinout company.
“Turning these…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
