BIA submission: House of Lords Science & Technology Committee inquiry into engineering biology
The BIA has responded to the House of Lords Science and Technology Committee inquiry into engineering biology. In addition, BIA has provided oral evidence to the Committee in April.
Summary of recommendations
It is vital for the UK to ensure that innovative companies can access the necessary infrastructure and finance and have a clear regulatory pathway if the UK wants these companies to scale and succeed in the UK.
- We need more cost-accessible pilot and scale-up facilities, especially for upstream and downstream bioprocessing, and the availability of specialist equipment, noting that different sectors need different equipment.
- The current and next government must continue to implement the Mansion House Reforms to unlock capital that is key to delivering long-term strength in the UK venture financing ecosystem that most engineering biology companies rely on. We need proof-of-concept funding from Innovate UK, a greater focus on engineering biology within British Patient Capital, and an internationally competitive and efficient R&D tax relief regime.
- We need regulators to have a pro-innovation, collaborative mindset and to be resourced appropriately, both in terms of funding and knowledge, to be able to horizon scan and deliver effective regulation, where it is required, and ensure companies can commercialise their products safely in the knowledge that they are acting within UK law, where it is not.
Significant progress must be made in these three areas in the first half of the 10-year Vision in order to ensure innovative companies can succeed.
