Innovation Fund

IBioIC's Innovation Fund awards funding to industry-led, collaborative research projects between academia and businesses that either have a foothold in Scotland or a plan to provide inward investment to stimulate Scotland’s economy.

Funding of up to £100,000 is available to cover costs incurred by the academic partner(s).

The project must demonstrate a clear market need or commercial opportunity based on the innovative application of biotechnology.

Match funding is required. At least 50% of the total project costs must be covered through a combination of both in-kind and cash contributions. In-kind contributions alone are acceptable only from micro or small to medium-sized businesses (SMEs).

If an application for funding is successful, all industrial partners must become members of IBioIC before the project start date and must remain members for the duration of the project.

Applications close on 1 September 2022 and projects must be completed by July 2024.

In order to be eligible, the project must:

• demonstrate a clear market need or commercial opportunity based on the innovative application of biotechnology
• demonstrate an economic, societal and/or reputational benefit to Scotland
• be championed and led by an industrial partner and should include at least one higher education institution (HEI) partner eligible for funding from the Scottish Funding Council (SFC)

The project may include any number of industrial and HEI partners provided the industrial partner has a presence in Scotland and the lead HEI partner is eligible for SFC funding.

There is no cost to apply. However, match funding is required. At least 50% of the total project costs must be covered through a combination of both in-kind and cash contributions. In-kind contributions alone are acceptable only from micro or small to medium-sized businesses (SMEs).

Any higher education institution (HEI) that is eligible for funding from the Scottish Funding Council (SFC), in collaboration with any industrial partners of any size with a foothold in Scotland.

IBioIC funding will not be released until all project documentation is complete and the industrial partner(s) have become IBioIC members (if they were not already).

Applicants should contact the projects team to discuss their applications before they submit them.

Visit the IBioIC website for more information and to contact the projects team.