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Research commissioned by the Biotechnology and Biological Sciences Research Council estimates that the council has supported more than 450 spin-outs, contributing £5.2 billion to the UK economy over a quarter of a century.
The independent review by Cambridge Policy Consultants looked at the period 1997 to 2021, looking at a total of 457 spin-outs that had previously received research grants.
Steve Bagshaw, Chairman of the High Value Manufacturing Catapult and BBSRC Board Member, said:
“This report shows the huge potential of bioscience research to drive growth across the UK economy. Companies funded by the BBSRC will create thousands of jobs and improve lives across the UK. Contributing.
“Their innovations will continue to drive positive change and help build a more sustainable and healthier future for all of us.”
The research found that in the 2021/22 financial year, more than 400 spin-out companies employed more than 8,000 people, of whom 29% worked in health services, 22% in pharmaceuticals and 21% in biotechnology. It was also revealed. Other important markets include agriculture and food manufacturing, both of which account for more than 10%.
The geographical distribution shows that a slight majority of funded spin-out companies are located in the capital, south-east and east of England, but almost half are located outside these regions. Ta.
Professor Guy Poppy, BBSRC Interim Executive Chair, said that although much of the innovative research BBSRC funding is often not made publicly available, its impact remains significant.
“Supporting innovative, interdisciplinary research, from converting agricultural waste into biodegradable plastics, to creating novel biomaterials for construction, to developing bio-based adhesives for use in surgery. BBSRC’s commitment to this goal is unwavering,” he commented.
“As we navigate the complexities of the modern world, the hidden work funded by BBSRC is quietly laying the foundations for a healthier, more sustainable future, driving economic growth and prosperity across the UK. ”
Case studies featured in the report include: SOLASTA Bio at the University of Glasgow is developing an alternative to traditional chemical pesticides. His Newcells Biotech, founded at the University of Newcastle, works on his 3D in vitro models of human organs for modeling drug outcomes. The University of Oxford has spun out his HydRegen initiative to produce energy-efficient, clean chemicals.
Photo credit: thisisengineering
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