Vince Cable’s £10 million boost for biology business

Vince Cable has shown a consistent commitment to investing in science and the latest plank of that is unveiled in today’s Telegraph:

Vince Cable has raised £10m of investment from the Biotechnology and Biological Science Research Council to help entrepreneurial scientists working in synthetic biology to establish their business.

Access to funding is seen as the greatest threat to the survival of small companies operating in these fast-growth markets, said Mr Cable.

“The banks have walked away from SMEs. They’ve been badly hit,” the Business Secretary said. “I want to help these firms through the so-called ‘valley of death’.

This is part of a wider £60 million investment in the sector to support research, development and training.

There is also a new resource for businesses seeking advice:

Mr Cable has also launched a government website, Greatbusiness.gov.uk, to help to plug the knowledge gap created by the dismantling of Business Link three years ago. The new portal, which has just gone live, will feature case studies and tips on exporting, apprenticeships and recruitment.

“It will enable people to see at a glance how to access government services,” the Business Secretary said.

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2 Comments

  • Is ‘fast-growth markets’ a deliberate pun?

  • Richard Dean 7th Nov '13 - 6:48pm

    The Telegraph is perhaps making a little joke. The BBSRC is funded by government, specifically by Vince Cable’s department, so Vince clearly did not raise £10 million “from” the BBSRC.

    http://bbsrc.ac.uk/organisation/organisation-index.aspx

    The truth is perhaps that BIS has provided BBSRC with their usual annual research funds, just as they do every year, but this time someone has decided to put a spin on it

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