IBioIC injecting key capital into Scotland’s bioeconomy with new fund

Scotland’s bioeconomy is being catalysed with a new fund launched by the Industrial Biotechnology Innovation Centre (IBioIC) to enable companies in the sector to access specialist resources including facilities – helping unlock opportunities for growth.

IBioIC says its Facilities Access Fund will allow businesses to apply for grants of up to £10,000 to support critical research and development projects, with the funding believed to be the first of its kind available to the sector.

The initiative has been conceived to boost access to Scottish university-based facilities ­– including IBioIC’s two Scale-Up Centres – billed as key to the development of new bio-based processes and materials.

IBioIC says the new fund has been designed to ease and encourage access to Scottish university-based facilities. Picture: Heriot-Watt University.

The Centre also said projects must be led by an industrial partner and can cover various biotechnology applications such as biorefining, food and drink, biomanufacturing, waste-management, textiles and agritech, with the grants letting companies secure timely access to the facilities and expertise vital to expediting innovations.

Companies looking to access the fund are invited to get in touch with IBioIC to discuss their application in the first instance, before having their submission closely assessed.

Liz Fletcher, director of business engagement at IBioIC, said: "Developing bio-based alternatives represents an important step in our move away from petrochemicals and carbon-intensive feedstocks, and will make manufacturing much more sustainable across a range of sectors. This fund is designed to support companies looking to unlock these opportunities by leveraging local assets.

“We know that our members – particularly [small and medium-sized enterprises] – have been calling for support of this kind, which can often be one of the costliest elements of an innovation project.”

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