The £40 million of funding will be available through the Industrial Biotechnology Catalyst, launched in January 2014 to provide funds to support projects involving collaborations between the academic and business communities, or cross-disciplinary academic collaborations.
Dr Cable said: “Whether it’s creating sustainable plastics or allergy-free products this new funding will help our talented biotech innovators continue to bring renewable, sustainable ideas to market. Government is committed to supporting this emerging sector and the additional £40 million will help cement the UK’s position as a world leader in this sector.”
Applications for projects to receive funding will be open from 11 December 2014.
To find out more, visit: www.gov.uk/government/news/vince-cable-announces-40-million-to-support-cutting-edge-research-on-visit-to-worksop-and-lincoln