19th January - Rainbow Seed Fund

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19 January 2004: BBSRC joins Rainbow Seed Fund

BBSRC hits jackpot on Government award scheme BBSRC and its research Institutes have won more than £5 million from a Government award scheme that helps public sector research establishments develop the business ideas that emerge from their science, it was announced today.

The money awarded to BBSRC (£2 million), through the DTI's £15 million Public Sector Research Exploitation Fund, will be used to provide further support to the Rainbow Seed Fund. The Fund provides capital investment to help commercialise the outcomes of research supported by a group of Research Councils and Government agencies. The award will increase the value of the Fund, which is open to BBSRC sponsored research institutes, to more than £6million. "We are extremely pleased with this award", says Dr Doug Yarrow, Director of BBSRC's Corporate Science Group. "Seed funding helps turn a good idea for a business into a thriving biotechnology company. Our involvement in the Rainbow Seed Fund demonstrates our commitment to enhance, even further, the ability of our Institutes to turn their best ideas into business that allow society to benefit from advances in science in the UK."

Our Partners:

Rainbow Seed Fund partners with these organisations...

The Rainbow Seed Fund provides seed capital to commercialise scientific research at our partner organisations:

BBSRC, CSL, Dstl, NERC, VLA, HPA, SCRI, STFC, Macaulay, NPL and UKAEA

The Rainbow Seed Fund is managed by Midven Ltd, which is regulated by the FSA.