Biotechnology: New Businesses
The question
To ask the Secretary of State for Science, Innovation and Technology, what funding her Department has allocated to support biotechnology start-ups in the UK.
Answered by Kanishka Narayan
UK Research and Innovation (UKRI), has awarded over £320 million to support biotechnology start-ups through a range of programmes spanning early-stage research commercialisation through to company growth. Support includes over £80 million through Biotechnology and Biological Science Research Council (BBSRC’s) Proof of Concept fund and more than £6 million for the Innovate UK ICURe pre-accelerator to help researchers develop commercial ventures. Early-stage companies are also supported through the UK Innovation and Science Seed Fund the BBSRC and Science and Technology Facilities Council (STFC) Deep Tech Catalyst Bio incubator, and investment in research and innovation campuses and innovation awards.
Since July 2024, Innovate UK has also committed £56.2 million in grant funding to support small and medium sized businesses test and develop innovative healthcare solutions through their Biomedical Catalyst programme.
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