6.4 Life Sciences
T H E U K S T R A T E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
of electric vehicle charging infrastructure in the UK and up to £ 14 million to expand support for the Low Carbon Vehicles Innovation Platform , including the demonstrator programme which has now resulted in a combined investment with other funders of £ 25 million . The programme will see over 340 low emission vehicles trialled on UK roads in the next 6-12 months – the largest trial of its kind in the world .
Paul Everitt , Chief Executive at SMMT said :
“ Ultra low carbon vehicles are now mainstream business for the motor industry . The Technology Strategy Board ’ s competition provides the ideal incentive to develop and demonstrate new technologies in the UK and the beginning of an important new phase in the development of the UK motor industry .”
6.4 Life Sciences
The UK is a world leader in life sciences ( pharmaceuticals , medical biotechnology and medical technology ). It is a key high-tech industry that will play a vital role in driving future growth and prosperity as well as meeting future challenges such as an ageing population .
Industry has a vital role in the future UK life sciences growth and Government has a key role in supporting industry by shaping the conditions in which UK businesses operate .
This is why the Strategic Investment Fund has provided additional support to the work on Life Sciences ( see Box D for more detail ) with the Technology Strategy Board investing up to £ 11 million in life sciences – including contributions towards its £ 18 million of support for regenerative medicine and scoping work in partnership with the MRC to explore the case for developing a new Innovation Platform in stratified medicine .
In addition , £ 12 million from the SIF , alongside funding from the East of England Development Agency , the Technology Strategy Board , the Wellcome Trust and GlaxoSmithKline will be invested to create a unique drug development bio-incubator . This will be located in Stevenage , Hertfordshire and , in its first phase , it will be home to around 25 companies with long-term plans to expand the available space 5-fold . It is looking to attract inward investments , spinouts and start ups . It will provide access to specialist equipment and services and knowledge sharing on drug development .
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