More funding for VIB to realise ambitious plans for future

Summary

Flanders is increasing its investment in the Ghent-based research centre by 34% based on its successes and plans for the future

From lab to market

The government of Flanders has signed a new agreement with the Flemish life sciences research institute VIB, assuring funding of €59 million for the next five years. By increasing VIB’s annual budget by 34%, the government is affirming its belief in VIB’s new strategic plan, said innovation minister Philippe Muyters.

“VIB is internationally recognised for its research excellence and proactive approach to translating research results into economic and social added value,” said Muyters in a statement. “VIB contributes substantially to the success of the Flemish biotechnology sector.”

VIB’s future plans include new initiatives to turn research into products, jobs and start-ups in Flanders more quickly and efficiently. “This grant increase allows us to further increase our social impact,” said VIB co-managing director Jo Bury.

The research centre, which produces research applicable to the pharmaceutical and agricultural sectors, as well as to various industrial applications, pointed out that more than 700 jobs and €930 million in investments are the results of its start-ups and the establishment of V-BioVentures. The V-BioVentures investment fund has raised nearly €76 million, about 40% of it from the European Investment Fund, based on VIB’s reputation.

VIB also announced the start of a new programme called Grand Challenges. “We will combine the strengths of various partners from Flanders and worldwide, within and outside the life sciences sector, to address the greatest challenges the future holds,” said Johan Cardoen, the institute’s other co-manager.

Photo courtesy VIB

Flemish Institute for Biotechnology (VIB)

VIB is a government-funded life-science research institute that has helped Flanders become one of the leading bioscience regions in Europe. Its focus is on translating scientific insights into pharmaceutical, agricultural and industrial applications.
Open house - Each year, the institute opens its labs across Flanders to thousands of visitors in its open-house Biotech Day.
First - Flemish researchers were the first to unravel the chemical structure and functional meaning of a complete genome.
Mission - The VIB was created to push Flemish life sciences research to the top and to help scientific results foster economic growth.
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