UK National Institutes of Bioscience Socio-Economic Impact 2010-2014
Ahead of the UK Government’s Comprehensive Spending Review at the end of November, the National Institutes of Bioscience provide evidence of the benefits of bioscience research to the UK economy and society over the past 5 years.
The recently published collective impact brochure highlights why increased and sustained investment in science is required to maintain the position of the UK as the ‘best place in the world to do science’ and to realize the growth of the bioeconomy.
NIB Institutes receive core funding from the BBSRC and since 2010, they have attracted over £1Bn from public, private and charitable sources. Independent assessments of the economic impact of the research carried out at the National Institutes of Bioscience indicate that every £1 of research funding invested generates between £8-15 Gross Value Added (GVA) for the UK economy.
Between 2010 and 2014, the Institutes have produced over 200 patents and created over 5,000 jobs per year. Examples of how they are transforming ideas into innovation, establishing fruitful collaborations with industry and supporting science policy development are captured in this brochure.
Despite the science budget freeze (which represents a 5% decrease in real-terms) the UK has managed to retain its world-leading position in science research and innovation over the past 5 years. However, the present threat of cuts of up to 40% will cause irreparable damage to the country’s science base and seriously compromise our ability to tackle issues of major national and global importance such as food security, climate change and healthy ageing.
Further evidence submitted by NIB to the science budget inquiry undertaken by the Science and Technology Committee earlier this year can be seen here:
Written evidence submitted by the National Institutes of Bioscience