BIA publishes analysis of Innovation Map at BIA Start-up Festival

The BioIndustry Association (BIA) has today released analysis of its Innovation Map at its Start-up Festival. The Innovation Map was launched in 2021 and is a resource to support next generation entrepreneurs to find relevant programmes to establish or grow their business within the UK life sciences and biotech ecosystem.

Key findings:

  • 63% of programmes are within the Golden Triangle of Oxford, London and Cambridge. By country, 86% of programmes were in England, 9% in Scotland and 5% in Northern Ireland. No programmes were identified in Wales. 
     
  • 52% of programmes offered funding to entrepreneurs, with 78% of those programmes taking no equity.
     
  • 68% of programmes offer expertise (mentorship and networking opportunities) and 40% of programmes offer introductions to investors.

Data showing programmes by type

Chart, bar chart Description automatically generated

Steve Bates OBE, Chief Executive of the BIA said: “The Innovation Map has become a key resource for early career biotech and life sciences entrepreneurs, helping them navigate an often-complex environment to source networking and investment opportunities.

“Our analysis shows an increasing support base for entrepreneurs here in the UK, supporting them on their journey to establish and grow their business - demonstrating the strength and depth at all levels of the UK life sciences ecosystem.”

Barbara Domayne-Hayman, Entrepreneur-in-Residence, Francis Crick Institute said: “For early-stage life science entrepreneurs, there is a bewildering array of potential support available which can be very challenging to sift and navigate. The BIA's Innovation Map for the first time pulls all of this information together into one place, allowing early-stage company founders to search for programmes, lab space and other opportunities that most closely fit their needs, at the right time.”

Will Milligan, CEO, Extracellular said: “The Innovation Map is a great resource for health tech entrepreneurs looking to find investment, collaborators and a place to start up.”

 

ENDS

 

  1. For more information, please contact Jack Fellows, Strategic Communications Media Manager, [email protected]

 

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