Funding New Innovations
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1 Funding New Innovations Dr Belinda Clarke Lead Technologist, Biosciences (Synthetic Biology)
2 What is the problem we are addressing? Business investment is too low and too late Technical and financial risks need to be mitigated The time for financial return is too long for many players Innovation disrupts value chains and business models New partnerships are required to build new supply chains Investment and innovation is required at multiple points Longer term trends not visible to all players Impact and opportunities from emerging technologies & policies Innovation infrastructure complex and inefficient Fragmented and difficult to navigate Government does not make best use of its levers Procurement, regulation, standardisation, fiscal incentives
3 Focus on five areas Accelerating the journey between concept and commercialisation Understand the business journey and accelerate it Provide a coherent package of support matched to needs Specific SME package but recognise role of larger companies Promote knowledge exchange Connecting the innovation landscape Turning government action into business opportunity Investing in priority areas based on potential Continuously improving our capability
4 Status The Technology Strategy Board was set up to support UK economic growth We have used a variety of tools to support UK based companies to be more innovative We are moving to support smaller and earlier stage companies that we have previously properly engaged with We are also developing new support mechanisms that will provide more effective support and that would benefit from us working together
5 Criteria Market What is the current and projected size, how fast is it growing, who are the competition? Capability Does the UK have a strong research base in the area, the skills, the business capacity? Timing Is the cost curve balanced by the value curve? Additionality Why should the taxpayer support this project?
6 DEGREE OF AGGREGATION Driving Innovation LAGGING LEADING COUNTRY Economic Growth Market Projections COMPANY BUSINESS Competition Specification PROGRAMME Impact Assessment PROJECT Project Performance PAST NOW YEARS TO FIRST PRODUCT SALE FUTURE
7 2014/15 Sustainability Energy Built Enviro nment Food Supply Transport Healthcare Advanced Materials High Value Manufacturing Biosciences Digital Services Space Electronics, Photonics and Electrical Systems Information and Communications Technology Development Catapults (High Value Manufacturing) (Cell Therapy) (Offshore Renewable Energy) (Satellite Applications) (Connected Digital Economy) (Future Cities) (Transport Systems) Knowledge Transfer Networks Knowledge Transfer Partnerships Smart
8 Competitions Collaborative Research and Development Used to drive engagement between businesses or with universities in themed areas and communities Feasibility Studies Used for early stage ideas to test potential Smart SBRI Use to support single companies in areas they choose Contracts with Government Departments that lead to procurement
9 Knowledge Transfer Knowledge Transfer Partnerships enabling companies to obtain knowledge, technology or skills which they consider to be of strategic competitive importance, from the further/higher education sector or from a research and technology organisation. The knowledge sought is embedded into the company through a project or projects undertaken by a good quality individual recruited for the purpose to work in the company. Knowledge Transfer Networks a single over-arching national network in a specific field of technology or business application which brings together people from businesses, universities, research, finance and technology organisations to stimulate innovation through knowledge transfer.
10 Types of Project Market readiness Blue sky Research Councils Feasibility Pre-industrial Research System Dev. Technology Demo Technology Development Industrial Research TSB and its co-funders funding System Qual. Experimental Development Prod. Prototype Commercialisation Commercial Invest. Venture Capital
11 Current Co-funding and Co-operation examples BBSRC Industry Clubs Argi-tech strategy Ind. Biotech Tech Inspired Data Explor n Academia and more... Business
12 TSB Bioscience Strategy ) Characterisation and discovery tools: Commercialisation of sequencing technology focused on genomics Phenotyping technology Integration of omics technology Bio-imaging, biosensors, probes/markers and diagnostic platforms 2) Production and processing: Metabolic engineering Novel manufacturing processes for bioproduct or biological production systems Formulation and delivery of bioproducts (inc. functional food and pharma) 3) Bio-Informatics: Approaches to organise, filter and interpret bio data (inc system modelling and visualisation) with a focus on user driven design
13 13
14 (0) Belinda_Clarke Thank you for your attention
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