The National Centre welcomes the news that Philip Hammond has unveiled a £220 million package of support for the life science and university sectors, to help technology breakthroughs translate into commercial success.
The announcement from the weekend includes the following package:
• £100 million of funding to extend and enhance the Biomedical Catalyst, supporting innovative UK life science companies to translate cutting-edge medical technologies into commercial success
• £120 million to incentivise university collaboration in tech transfer and in engaging with business, helping transform research at universities and institutions into viable business ventures
• expanding the successful Challenger Business Programmes to address regulations that pose the largest barriers to the adoption of disruptive technologies
The National Centre’s CEO David Docherty said:
“The National Centre is very pleased with this announcement, which confirms the Government’s continuing commitment to university-business relations.
“In these uncertain times, it is heartening to hear announcements of a continuing commitment to a healthy research base, alongside the Chancellor’s recent commitment to support research projects that win EU funding for the life of those projects, even beyond Brexit.”