UK to bail out biotech

The British government is investing £750 million ($1.1 billion) to bolster the ailing biotech industry and other commercial science and technology sectors. Image: flickr/MjuboyThe new Strategic Investment Fund "will encourage exports, support inward investment, promote research and development and harness commercially our world-class science base," linkurl:Alistair Darling,;http://en.wikipedia.org/wiki/Alistair_Darling Britain's Chancellor of the Exchequer, said today (Apr. 22) in his lin

Elie Dolgin
Apr 21, 2009
The British government is investing £750 million ($1.1 billion) to bolster the ailing biotech industry and other commercial science and technology sectors.
Image: flickr/Mjuboy
The new Strategic Investment Fund "will encourage exports, support inward investment, promote research and development and harness commercially our world-class science base," linkurl:Alistair Darling,;http://en.wikipedia.org/wiki/Alistair_Darling Britain's Chancellor of the Exchequer, said today (Apr. 22) in his linkurl:budget speech;http://www.hm-treasury.gov.uk/bud_bud09_speech.htm to parliament. "The small and medium sized companies that make up the bioscience sector in the UK have been hit hard by the current financial crisis," linkurl:Clive Dix,;http://www.bioindustry.org/cgi-bin/contents_view.pl?SITE_ID=343 chairman of the BioIndustry Association, said in a statement. "It is essential that the fund is now implemented rapidly." The linkurl:Technology Strategy Board,;http://www.innovateuk.org/ the leading public agency for supporting business innovation, will receive £50 million ($72 million) of the fund to invest "in areas which have high potential to drive future growth, such as low-carbon technologies, advanced manufacturing, and the...




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