Scottish Enterprise welcomes IBioIC £11m funding announcement, including £2.8m from Scottish Enterprise
IBioIC announced today that it will receive £11m of Scottish Government funding to support Scotland’s Industrial Biotechnology sector, aiming for £130m economic boost and creation of 1400 jobs by 2023
David Smith, Senior Director at Scottish Enterprise, commented:
“Securing this funding is fantastic news for IBioIC as it will build competitive advantage in companies for years to come. Scotland has all the ingredients crucial to developing industrial biotech as a highly disruptive and transformative manufacturing technology to help businesses increase productivity and innovation. Business innovation is a key driver of economic growth, which is why, alongside our partners, we’re investing £2.8 million in IBioIC over the next five years.
“We’re making excellent progress in raising Scotland’s business innovation levels, with R&D investment in Scotland reaching £1 billion for the first time last year as well as the EY Attractiveness Survey 2017 recognising Scotland as the UK leader in attracting foreign direct investment for R&D projects. IBioIC will build on this and ensure Scottish companies are able to access the support they need to harness the power of industrial biotech.”
Read the IBioIC funding news release at http://www.sfc.ac.uk/news/2018/news-68706.aspx