Innovate UK: New Funding Drive for Scottish Bio-Manufacturers
Funding | Nov 04, 2024 | Scottish Enterprise
Scottish Enterprise has partnered with Innovate UK to launch the second round of the Innovate UK Launchpad for Scotland, offering total investments of up to £5.25 million to support bio-based manufacturing projects. Designed to nurture innovation across various bio-based sectors in Scotland, the funding comes on the heels of successful first-year implementation, which saw £1.8 million allocated to companies working on green technologies. This initiative is aligned with the goals outlined in Scotland's Industrial Biotechnology strategy, which aims to surpass £1.2 billion in company turnover by 2026 and accelerate advancements in sustainable production. Director of Scaling Innovation at Scottish Enterprise, Derek Shaw, emphasized Scotland’s leading role in bio-manufacturing while endorsing the economic, community, and environmental benefits anticipated from these funding efforts. Applications for this funding round will be accepted between November 4 and December 11, 2024, providing a new wave of bio-based innovators the chance to scale their operations in a bid to maintain Scotland’s foothold in the global bio-based technology landscape.
Sectors
- Biotechnology
- Renewable Energy
- Manufacturing
Geography
- Scotland – Primary location of funding beneficiaries and the focal point of the bio-based manufacturing cluster initiative.
Industry
- Biotechnology – Focus on advancing industrial biotechnology, fostering innovation in bio-based manufacturing, sustainable production, and biomass supply chains.
- Renewable Energy – Includes renewable energy resources as part of Scotland's bio-resource strengths supporting the transition to greener production and sustainability.
- Manufacturing – Encompasses the development and scaling of innovative bio-manufacturing processes and sustainable practices.
Financials
- 5,250,000 – Total investment amount available in the second round of the Innovate UK Launchpad for Scotland.
- 1,000,000 – Maximum grant funding available for individual projects in the bio-based manufacturing sector.
- 1,800,000 – Initial funding allocated in the first phase of the Innovate UK Launchpad for Scotland.
- 1,200,000,000 – Targeted company turnover goal set by Scotland's Industrial Biotechnology strategy by 2026.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Scottish Enterprise | Co-developer | Company | Public body working in partnership to push Scotland’s economic development, particularly in innovation and industry sectors. |
| Innovate UK | Funding provider | Company | UK's innovation agency supporting business-led technological innovation across various sectors, including biotechnology. |
| Derek Shaw | Director of Scaling Innovation | People | Scottish Enterprise's Director involved in pushing innovation and managing strategic growth in emerging sectors. |
| Industrial Biotechnology Innovation Centre (IBioIC) | Cluster Management | Company | Organization focused on supporting biotechnology advancements and industry collaborations. |