IB Centre Brings Jobs to Scotland

A new innovation centre for industrial biotechnology (IB) is forecast to increase IB related turnover to up to £3 billion by 2030, create 1500 jobs within five years and put Scotland at the forefront of a global transformation.

With an initial £10 million funding by the Scottish Funding Council and supported by Scottish Enterprise and Highlands & Islands Enterprise, the new Industrial Biotechnology Innovation Centre (IBioIC) – hosted at the University of Strathclyde – is a key element of the National Plan for Industrial Biotechnology – Towards a Greener, Cleaner 2025.

Finance Secretary, John Swinney said at the recent launch event: “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 £3.7 billion 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 £130 million 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.”

Ian Shott CBE, Chairman of IBioIC, added: “IBioIC is a collaboration of businesses and Higher Education Institutions with the ambition to be truly distinctive, world-leading and responsive to the market and technology needs of industry. Furthermore, the networks that IBioIC members bring to the partnership will be consolidated and extended to enhance connectivity and collaboration with industrial biotechnology centres worldwide.

“We aim to surpass the targets set by Scotland’s National Plan for Industrial Biotechnology by raising the estimated turnover of industrial biotechnology-related products from around £190 million currently, to between £2 billion and £3 billion by 2030.”