Scottish industrial biotechnology innovation centre to create 1,500 jobs
5 February 2014
A new innovation centre for industrial biotechnology (IB) is forecast to increase turnover to £3bn by 2030, creating 1,500 jobs within the next five years.
Wed, 5 Feb 2014A new innovation centre for industrial biotechnology (IB) is forecast to increase turnover to £3bn by 2030, creating 1,500 jobs within the next five years.
Funded by the Scottish Funding Council and supported by Scottish Enterprise and Highlands & Islands Enterprise, the new Industrial Biotechnology Innovation Centre (IBioIC) – located at the University of Strathclyde – is key in Scotland’s national plan for IB.
It brings together academic and private sector partners in the potential £360bn global IB market.
IB is the use of biological substances, systems and processes to produce intermediate and final products such as pharmaceuticals, chemicals, materials and energy – cost-effectively and with minimal adverse environmental impact.
Scottish finance secretary John Swinney said: “The creation of 1,500 new jobs is a fantastic boost for Scotland’s expanding biotechnology industry. Scotland’s chemical industry is the country’s second top exporter – equating to £3.7bn per year – while Scotland’s life sciences sector is one of the largest and fastest-growing in Europe.
“The launch of IBioIC is predicted to add £130m to the Scottish economy and will allow Scotland to be at the forefront of global transformational change from a largely fossil fuel-based to an industrial biotechnology-inclusive economy.”
Funded by the Scottish Funding Council and supported by Scottish Enterprise and Highlands & Islands Enterprise, the new Industrial Biotechnology Innovation Centre (IBioIC) – located at the University of Strathclyde – is key in Scotland’s national plan for IB.
It brings together academic and private sector partners in the potential £360bn global IB market.
IB is the use of biological substances, systems and processes to produce intermediate and final products such as pharmaceuticals, chemicals, materials and energy – cost-effectively and with minimal adverse environmental impact.
Scottish finance secretary John Swinney said: “The creation of 1,500 new jobs is a fantastic boost for Scotland’s expanding biotechnology industry. Scotland’s chemical industry is the country’s second top exporter – equating to £3.7bn per year – while Scotland’s life sciences sector is one of the largest and fastest-growing in Europe.
“The launch of IBioIC is predicted to add £130m to the Scottish economy and will allow Scotland to be at the forefront of global transformational change from a largely fossil fuel-based to an industrial biotechnology-inclusive economy.”
