The Scottish industrial biotech sector is on track to achieve annual turnover of £1.2 billion by 2025, according to a refreshed strategy launched at the Industrial Biotechnology Innovation Centre’s (IBioIC) annual conference today. 

The updated National Plan for Industrial Biotechnology outlines new ambitions for Scotland’s bioeconomy, including reaching a target of 220 companies operating in the sector and more than 4,000 employees by 2025.  

The updated figures follow IBioIC analysis which revealed businesses active in industrial biotechnology accounted for more than £790 million in turnover during 2020, marking an increase from £189m in 2012.  

Initial targets of the National Plan were set at £900m turnover and 2,500 employees by 2025. 

Scottish Business Minister Ivan McKee is set to present the updated vision for the sector to attendees at IBioIC’s conference in Glasgow today, where experts from industry and academia will gather to discuss how sustainable development of the bioeconomy can support Scotland’s path to net zero.

The Scottish industrial biotech sector is already supporting the creation of more sustainable materials, consumer goods and pharmaceuticals by using bio-based alternatives to petrochemicals, maximising the re-use of by-products and minimising waste. 

Mark Bustard, chief executive of IBioIC, said: “Reaching net zero is going to be a big challenge for Scotland, but it also presents opportunities to embrace biotechnology as a means of getting there.  

“We are already making great progress with the bioeconomy in Scotland, which has grown considerably over the past decade – so much so that we now have new ambitious, but achievable, targets to work towards.”

Bustard added: “By supporting businesses to embrace more sustainable products, materials and processes through industrial biotechnology, we can secure local supply chains, create green jobs, and fuel economic growth.  

“However, with a climate emergency upon us, we need to do more and do it quickly: the new National Plan sets out some of the required steps to make that a reality.”

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Commenting on the updated plan, Ivan McKee said: “It is encouraging that Scotland’s vibrant industrial biotechnology sector is ahead of schedule to meet targets set out in Scotland’s original National Plan and has ambitious new goals for growth. 

“Our National Strategy for Economic Transformation, launched earlier this year, sets out our plans for the next decade and highlights industrial biotechnology as a current and future key industry for Scotland that is fostering innovative and sustainable ways of using biological processes.

“This includes identifying new market opportunities where Scotland has potential to develop industries like industrial biotechnology by building on our technological strengths.” 

Suzanne Sosna, director of economic opportunities and climate at Scottish Enterprise, added: “This refreshed strategy will help achieve Scotland’s economic and net zero ambitions, while creating high quality jobs and accelerating the growth of Scotland’s biotechnology sector.”

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