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.”

Further detail of the announcement can be found here.