Last week the Treasury launched its ‘Financing growth in innovative firms’ consultation, which seeks views on how to increase the supply of capital to growing innovative firms. The consultation is part of the Patient Capital Review and closes on Friday 22 September. This is a critical piece of work that we hope could lead to a step-change in financial support for our sector. The BIA has been engaged with the Treasury since the review was announced in the later part of 2016 and we will also be formally responding to the consultation. Keep an eye out on our blog for your opportunity to input. You can find out more about the consultation here.

There’s more for you to get involved with this week. The ScaleUp Institute, of which the BIA is the life science member, is conducting a business survey as part of its ongoing work to focus attention on the UK’s high growth firms to ensure that the UK is the best place in the world for companies to both start up and scale-up. It’s vital that our sector is represented in this work as our business models are often somewhat different in scale and timescale to the average app developer.  Please consider using a summer 15 minutes to complete the survey here.

Applications also opened last week for two competitions in this year’s Biomedical Catalyst. Innovate UK and the Medical Research Council (MRC) will invest up to £12 million in new and novel healthcare solutions. The competitions are for UK micro, small and medium-sized enterprises for feasibility and early stage projects. You can read all of the competition information here.

Staying with Innovate UK, the organisation is working on a campaign around women and innovation and recently presented a UK female entrepreneur role models exhibition. The exhibition included a health and life science section which featured entrepreneurs including Fiona Marston, CEO of Absynth Biologics. Fiona features in Innovate UK’s video ‘What’s it like to be a female entrepreneur in the health tech sector?’ which featured in Friday’s BIA video showcase. Watch the video here.

You may have seen our blog last month on the publication of Home Office’s ‘annual statistics on the number of animals being used in research’ report for 2016. The NC3Rs is launching its CRACK IT Challenges at an event on 7 September in central London. There will be three CRACK IT challenges and the event will provide the opportunity to find out more meet the sponsors and potential collaborators, and find out what makes a good application. You can find out more and register for the event here.

In case you missed it last week, we are now inviting nominations from senior individuals from BIA members interested in joining the BIA Board. Nominations must be received by close of business on Wednesday 6 September 2017. If interested the details are all here in last week’s update.

Unless industry news compels us otherwise Newscast will now take a summer break and be back with you after the August Bank Holiday.