Creating spinouts from biotechnology
BBSRC’s mission is to lead world-class 21st century bioscience and support the bioeconomy.
To fulfil this mission BBSRC invests in research excellence, pushing the frontier of knowledge in biology to contribute to the realisation of a healthy, prosperous and a sustainable future. The translation of fundamental bioscience is vital to deliver the anticipated benefits for the UK economy and the world-over. The different routes to translation in bioscience are often long and complex. One such route, by which social, economic and commercial relevance of research can be realised, is through establishing a spinout company.
Between 2004 and 2018, researchers supported by BBSRC helped establish 234 spinout companies, of which 163 are still active. These companies operate throughout the UK in ten different industrial sectors and employ between 2,019 and 4,037 people. Those 234 companies originated from 56 different research organisations (universities or research institutes) and are linked to £139 million of BBSRC investments. Taken together these companies have raised more than £1.3 billion of private investments over recent years.
Engaging with BBSRC-supported researchers throughout the lifetime of their research to understand how outcomes of research can translate into benefits and impact is essential. Developing this understanding and notably the contribution spinout companies make to society and the economy is important in providing BBSRC and UKRI-wide research councils with the insight of what it takes to translate fundamental research to a commercial reality.
BBSRC have produced a report highlighting a few examples of spinout companies that exemplify how BBSRC investments in research and supports for translation are making a difference.