BioVale plans move on with major investment support
A NEW initiative that aims to establish the region as an international centre for bio-based research and development, BioVale, has secured more than £10m of investment.
The funding will be used to provide dedicated office and laboratory facilities and specialised training for bio-based industry.
BioVale aims to help businesses in Yorkshire and the Humber capitalise on rapidly growing global markets for products sourced from plants, microbes or waste. The £10m support is from local enterprise partnerships, government and the University of York.
York, North Yorkshire & East Riding Local Enterprise Partnership and Leeds City Region Enterprise Partnership have secured £8m from the recent round of Local Growth Deals with government. The funding will be used to create the BioVale Centre, which will provide flexible laboratory and pilot-scale business incubation space to help firms grow their bioeconomy business.
York, North Yorkshire & East Riding Local Enterprise Partnership (YNER LEP) has awarded an additional £280,000 of its Local Response Fund to BioVale and Askham Bryan College to develop workforce skills needed by the biorenewables sector. This is the latest investment in the BioVale vision.
The University of York is contributing 4.3 acres of the Heslington East campus, worth in the region of £2m, as the site for the new facilities.
This week, BioVale is taking a UK trade mission to northern France to visit French bioeconomy partner, Industries & Agro-Resources (IAR) and take part in the 7th European Forum for Industrial Biotechnology and the Bio-based Economy, hosted by IAR.
“The BioVale concept is now a reality”, said Dr Joe Ross, director of the Biorenewables Development Centre and one of BioVale’s founders. “These significant investments are an indication of just how much support we have, not just from funders, but also from industry, research and higher education in the region.”
Professor Deborah Smith, pro vice chancellor for research at the University of York and chair of the BioVale steering group, said: “BioVale is an important new initiative for ensuring that the world-class research at the university makes an impact on the bioeconomy at regional, national and global levels.”
Paul Hamer, chair of the Leeds City Region Enterprise Partnership’s green economy panel said: “We are delighted to be working in partnership with our public and private sector colleagues to establish this pioneering site. We will continue to negotiate with government to secure further funding that will ensure this initiative benefits businesses across the entire City Region.”
