Month: June 2023

An Innovate UK-backed biotech company has achieved a pioneering biocomputer breakthrough which is accelerating the development and manufacture of cheaper drugs and vaccines.
BiologIC Technologies, inventor of the world’s first biocomputer, has developed 3D printed ‘lab-on-a-chip’ platforms – miniaturised devices that integrate multiple laboratory functions onto a single chip.
These enable faster, more efficient, and cost-effective analysis of biological samples, with applications ranging from drug testing to point-of-care diagnostics.
Thanks to Analysis for Innovators (A4I), a grant funding programme run by Innovate UK, the UK’s innovation agency, BiologIC was able to access the expertise and advanced equipment of the National Measurement Laboratory (NML) hosted at LGC.
As a result the Cambridge-based company has achieved a massive leap in its understanding of how the plastic materials used in 3D printing the chips interact with biological applications.
It is now able to demonstrate greater biocompatibility and stability of its ‘lab-on-a-chip’ which means pharmaceutical manufacturers and Contract, Design and Manufacturing Organisations (CDMOs) can now speed up the work needed before developing minimum viable products, which will ultimately lead to faster time-to-market and cheaper drugs and vaccines.
Commenting on BiologIC’s experience of the A4I programme, Dr Colin Barker, Chief Scientific Officer at BiologIC Technologies, said: “Without access to the high-end analytics, and, more critically, the world class expertise at NML made possible through the A4I funding, it would likely have taken us several years to achieve the same insights.
“We’ve already taken the learning we’ve gained from the grant and applied it in real time. We have several active projects, where we have directly applied our new knowledge to improve customer outcomes. This grant directly led to an increase in our understanding, which has had an immediate impact, and greater commercial success.”
For BiologIC to support its customers in developing and manufacturing high-quality biological products, it had to first understand the chemical interactions between the 3D printed materials and biological samples.
“By the nature of them being 3D printable materials, they’re very reactive,” Barker explained. “And so, part of Biologic’s proprietary know-how is how to take those materials and treat them to make them biocompatible. But that’s a very complex, very slow process.”
But the pioneering technology company – which has been taking products to market since 2020 – did not have the funds or specific expertise required for full investigation of these interactions.
“Our customers are trying to produce advanced biology products at scale with robust reproducibility,” Barker added. “The greater understanding of our materials through the A4I grant allows us to standardise and streamline our production methodologies, delivering reproducible results at a lower cost.
“Personalised medicines by their nature don’t have economies of scale, and price tags can run into millions of pounds per patient. The BiologIC platform provides the paradigm shift in automation technologies required to enable disruptive economics and democratise access to these new therapies.”
The BiologIC platform is already generating value for advanced developers at customer sites. The BiologIC team works closely with customers to create custom configurations of its platform, addressing customer challenges including increasing yield, process robustness and scale.
Analysis for Innovators (A4I), run by Innovate UK, the UK’s innovation agency, helps businesses access cutting-edge R&D and expertise of skills and equipment at nine national measurement centres across the country. The grant funding is also extended to all or some of the project costs.
Simon Yarwood, Knowledge Transfer Manager – Industrial Technologies, A4I at Innovate UK KTN, said: “The transformation of BiologIC is yet another success story generated by A4I. It is an effective demonstration of how we empower companies to boost their productivity and their competitiveness by solving difficult technical analysis-type problems that maybe they’ve been battling with for some time.
“And we introduce them to some unique partner organisations, like NML, who have world class skills and unique facilities. That allows them to look at problems in a new way, and then help solve them.”
A4I has been running since 2016 and brings together nine national centres of excellence in measurement, tackling challenges affecting existing processes, products or services. Across nine rounds of funding, it has supported over 250 companies resulting in over £600M of benefit for those businesses, such as increased productivity and turnover, reduced waste, and the creation of new and upskilled jobs.
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Innovate UK-funded biotech company accelerates cheaper drug and vaccine manufacture after biocomputer breakthrough

New research by Aston University’s Centre for Business Prosperity has shed light on the realities faced by the Midlands region concerning international trade.
The report, Midlands International Trade: State and Challenges, looked at the region’s trade performance from Q3 2019 to Q2 2022 and offers recommendations for recovery and growth.
It highlighted several factors disrupting exports across the UK, including Brexit uncertainty, the COVID-19 pandemic, supply chain disruptions, the UK’s EU exit, reduced demand and higher costs.
In 2019, the Midlands accounted for £56 billion in exported UK goods, representing 16% of the UK’s total goods exports. However, the value of goods exports experienced a significant decline in 2020, dropping by over 10% to £45.6 billion – five times higher than the national average decline of around 2%.
Additionally, the Midlands’ services exports were severely disrupted, with a near 25% reduction in export value, making it the worst-hit region. Between 2021 and 2022, the Midlands’ rate of recovery lagged behind the UK average, resulting in a two-percentage-point reduction in the region’s share of UK exports.
Machinery and transport account for over 60% of the region’s exports, but the decline and slow recovery in this sector, particularly in the West Midlands, have negatively impacted the region.
Jun Du, a professor of economics at Aston Business School who worked on the report, said:
“We found the Midlands’ exports rely equally on EU and non-EU markets, but the decline in exports since 2020 has been more pronounced in non-EU markets.
“The East Midlands and West Midlands exhibited varying rates of recovery, with the East Midlands showing signs of bouncing back in 2022 while the West Midlands’ recovery has been weaker.
“To revive and develop exporting in the Midlands, we recommend developing Midlands export markets and trading relationships by promoting regional firm strengths, exploring growth markets, and influencing UK trade policy.
“We encourage policymakers to help SMEs explore overseas markets, develop export strategies and enhance overseas marketing capabilities by providing training, education and inspiration to Midlands entrepreneurs and business leaders regarding exports.
“There is also a need to pursue a regional industrial strategy that leverages the region’s strengths and competitiveness in emerging global markets, emphasising sustained exporting and firm productivity.”
Professor Delma Dwight, director of Midlands Engine Observatory, said:
“It’s clear that there is no one single issue that’s causing trade challenges in the Midlands, and it follows therefore that there is no one single solution.
“Neither is the exporting journey a linear one, whether that’s for large companies or SMEs.
“Supporting businesses of all sizes, wherever they are in terms of export growth, will help them predict and adapt to changing conditions.
“If we can bolster confidence across the board, over time that becomes the bedrock of a more stable recovery.”
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Midlands hit hardest in economic ‘perfect storm’

MusicMagpie reported its earnings rebounded after a post-February rally helped the tech retailer shake off the impact of postal strikes and low consumer confidence.
Underlying earnings shot up 42 per cent to £2m in the second quarter, with the Stockport headquartered firm seeing pre-tax earnings rise 7.7 per cent over the entire period, dented by struggles in December and January.
MusicMagpie – an online retailer specialising in consumer tech and disc media – did however report a dip in revenue in both its key disc and consumer tech segments, down £4.8m and £4.5m respectively as it focussed “on cost control and increasing gross margins rather than growing revenues.”
Steve Oliver, chief executive officer and co-founder of MusicMagpie, said: “We are pleased with our performance in what is always the seasonally quieter half of the year for musicMagpie. It is especially gratifying to see that our profit improvement has been driven by an increased margin.”
“This has been achieved both by focusing on higher margin sales through our own musicMagpie online store, as well as the continued strong growth of our rental offering. While we remain very mindful of the current tough consumer environment, the momentum in our business as we head into H2 means that we are confident of achieving our full year expectations.”
It comes following a tough start to the year for the used-technology reseller, who said in March that Royal Mail postal strikes had dented its outlook for 2023, despite it narrowing losses.
The dispute between the Communication Workers Union (CWU) and Royal Mail saw the companies’ biggest ever walk-out earlier in the year, with the further walk-outs expected.
Low consumer confidence due to ongoing macroeconomic uncertainty and inflation also held the firm’s full year outlook back in March, however resistant demand for its consumer tech section saw customers to the that segment rise to 39,000, up from 24,000 in May 2022.
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MusicMagpie turns corner from postal strike misery with earnings boost

The United Kingdom’s landscape, characterised by its rich cultural heritage, economic dynamism, and intricate political scenarios, is once again at the forefront of international discussions.
This time, the focal point is the repercussions of the Brexit tax imposed on food imports from the European Union (EU). The consequences of this new financial burden are anticipated to ripple across the nation, affecting small businesses and consumers alike.
The Brexit tax, as it’s been colloquially named, is a new levy introduced by the UK government on food imports from the EU. Initiated by the Department for Agriculture, Food and Rural Affairs (Defra), the tax aims to recover operating costs of government-run border control posts in England. The idea of a £43 charge per consignment might seem trivial on the surface, but considering the UK’s substantial daily import volumes, it adds up to a hefty sum, inflating the already bloated costs of importing goods post-Brexit.
The Economics of the Tax
The Brexit tax comes on top of other expenses associated with food imports, such as veterinary and customs agents’ fees, and increased supply chain costs. As the tax piles up with these additional costs, the financial burden on importers escalates, pushing them towards an almost unavoidable decision – to pass on the costs to consumers.
Impact on Small Businesses
The new tax regime seems to hit the smaller players in the market hardest. Specialty food retailers such as delicatessens, which import a variety of unique items from the EU, are particularly at risk. These small businesses, with their limited resources, will find it challenging to absorb the extra costs. Consequently, they may be forced to increase their prices, potentially harming their competitive edge in the market.
The Consumer’s Plight
As small businesses grapple with the new tax, it’s the consumers who are likely to bear the brunt of these changes. The tax, in combination with other import costs, will inevitably lead to higher retail prices. The cost of living, already burdened by a 19% rise in food and drink prices over the past year, is set to increase further.
The UK government has justified the tax by citing the need to recover operating costs for the border control posts built post-Brexit. However, the timing and implementation of the tax have come under scrutiny. Critics argue that imposing a flat-rate fee, regardless of the size or scale of the import, is unfair and disproportionately impacts small businesses.
The Post-Brexit Reality
Brexit has undeniably transformed the UK’s trading landscape. Since leaving the single market and customs union, UK exporters have faced increased costs and bureaucratic hurdles when sending goods to the EU. Now, with the introduction of the import tax, UK importers are set to experience a similar fate.
The Response from Industry Experts
Leading voices in the industry have expressed their concerns over the tax. Shane Brennan, director of the Cold Chain Federation, describes the tax as “the sting in the tail of a post-Brexit food inspection regime.” He warns that the policy could contribute to the collapse of haulage operations that small businesses rely on.
Bracing for Impact
Small businesses are bracing themselves for the impact of the tax. Many are exploring alternative strategies to mitigate the potential financial blow. Unfortunately, some smaller businesses have decided to cease exporting to the EU altogether, while others have established depots within the EU to circumvent the extra costs.
Addressing the Crisis
The escalating food price crisis prompted Prime Minister Rishi Sunak to convene a meeting with farmers, food producers, and leaders of some of Britain’s largest supermarkets. However, the effectiveness of these discussions remains to be seen, but it was reported that those at the meeting dubbed it as simply a ‘PR stunt.’
Conclusion
The Brexit tax on food imports signifies yet another twist in the post-Brexit saga. While the government aims to recover operational costs with this move, the repercussions on small businesses and consumers are concerning. As the UK navigates this challenging economic period, it will be crucial to monitor the evolving effects of this tax and its impact on the nation’s food industry.
Navigating the post-Brexit realities requires an understanding of the intricate economic, political, and societal factors at play. The Brexit tax, its implications, and the responses it has elicited from various stakeholders provide a fascinating insight into the UK’s dynamic post-Brexit landscape.
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The Ripple Effect of Brexit Tax on UK’s Small Businesses and Consumer Wallets

Outstanding student loans in England have surpassed £200bn for the first time – 20 years earlier than previous government forecasts, as the number of students at universities continues to outstrip expectations.
The Student Loans Company (SLC), which administers tuition and maintenance loans in England, said that the balance of government-backed loans reached £205bn in the current academic year, including £19bn worth of new loans to undergraduates. The figure has doubled in just six years. It reached more than £100bn in 2016-17 after the coalition government decided to increase undergraduate tuition fees from £3,600 a year to £9,000 in 2012.
The SLC also revealed that the average amount owed by graduating students had risen again, and now sits at just under £45,000.
Loan repayments by graduates also rose to more than £4bn in 2022-23, which the SLC said was “considerably higher” than the previous years, in part because higher inflation “may have positively affected borrower salaries”.
Loans to students in England remain far higher than those in other countries in the UK. Students in Scotland – where tuition is free for residents – have £15,400 in outstanding loans on average, while students from Wales owe £35,500 and those from Northern Ireland owe £24,500 after graduation, according to the SLC.
Government forecasts in 2013 were for outstanding student loans to reach £200bn by 2042, but England’s undergraduate population has swelled more rapidly than expected while postgraduate students have also been able to take out loans. More recent government forecasts cited by the House of Commons library are for the total to reach £460bn by the mid-2040s.
Student finances are expected to be a battleground in next year’s general election, with the government having recently revised the loans system so that lower and middle-earning graduates will have to repay a greater share.
From 2024-25, undergraduates will have to start repaying their loans when they earn £25,000, rather than the current threshold of £27,295, and will have to continue repaying for a maximum of 40 years rather than 30, when outstanding loans are written off. Interest rates will be lowered for new borrowers, which benefits high-earning graduates able to pay off their loans earlier.
The changes are expected to double the number of graduates who pay off their loans in full. But the Institute for Fiscal Studies has said that they will more than treble the expected repayments for the lowest-earning 30% of graduates.
Labour has pledged to reverse the changes if elected, accusing the government of “hammering the next generation of nurses, teachers and social workers”.
While the £205bn would equate to about 8% of the UK’s public sector net debt of more than £2.5 trillion, how students loans are accounted for in the national accounts is complex. The portion of loans forecast to be repaid are treated as a loan, while the part expected to be written off is recorded as government spending at the time the loans are made.
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Student loan debt in England surpasses £200bn for first time

Television personality Jeremy Clarkson, famed for his role on ‘Clarkson’s Farm’, has recently achieved a significant win concerning his Diddly Squat Farm.
After an ongoing disagreement with the West Oxfordshire District Council, Clarkson has now been granted permission to augment the parking facilities at his farm shop, a notable site featured in his popular Amazon series.
Clarkson’s struggle to expand the car park began last year when his initial request was denied by the West Oxfordshire District Council. The refusal sparked a year-long contention, with the council reluctant to approve Clarkson’s plans. The heart of the issue lied in the farm’s increasing popularity, which drew large numbers of visitors, leading to a dire need for more parking space.
Diddly Squat Farm, situated in the serene village of Chadlington, gained considerable fame due to its feature in Clarkson’s Amazon series, ‘Clarkson’s Farm’. The farm’s escalating popularity resulted in a substantial influx of visitors, overloading the available parking facilities. Consequently, cars were left on muddy embankments beside the road, which led to land damage and sparked indignation among some local inhabitants.
The Green Light for Expansion
In a significant turn of events, a planning inspector has now sanctioned the car park extension, along with modifications to the land use. This approval will allow the establishment of more formalized parking spaces and new access arrangements, providing a solution to the existing parking issues. However, Clarkson’s proposal to introduce a restaurant on the farm site was unfortunately refused.
The Planning Inspector’s Report
RJ Perrins, the planning inspector, wrote in his report that he would grant planning permission for the expansion of the existing parking area, formalizing temporary parking and provisioning new access arrangements. Perrins described Diddly Squat as a ‘victim of its own success’, referring to the immense interest the farm has generated in recent years.
A Different Kind of Attraction
Despite the considerable visitor influx, Perrins stressed that Diddly Squat Farm was not comparable to regular leisure or tourist attractions, such as a Wildlife Park or miniature railway. Unlike these attractions, the farm did not charge an entrance fee or advertise to attract tourists and paying visitors.
Local Concerns Addressed
Addressing the concerns of local residents, Perrins acknowledged the significant inconvenience the farm’s popularity has caused for those living nearby. Many of the farm’s visitors showed little regard for proper highway use, leading to further road damage and traffic disruptions. Perrins noted that these issues have understandably caused tensions between some local residents and visitors to the farm shop.
Restaurant Proposal Denied
Despite Clarkson’s victory regarding the car park extension, the planning inspector refused permission for a restaurant in an area of the farm known as Lowland Barn. This decision remains a setback for Clarkson, who had plans to further develop the farm’s facilities.
In light of his recent win, Clarkson revealed that fans might have to wait a bit longer for the third series of ‘Clarkson’s Farm’. The team is still in the process of filming, with some aspects yet to be resolved. Thus, the release of the new season might be delayed until the completion of filming in October.
Jeremy Clarkson’s recent victory in the car park dispute marks a significant development for his Diddly Squat Farm. While the decision brings relief regarding the parking issues, the denial for a restaurant add-on reflects the ongoing challenges in balancing local concerns with the farm’s growing popularity. As fans await the next season of ‘Clarkson’s Farm’, it remains to be seen how these developments will shape the farm’s future.
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Jeremy Clarkson Triumphs in Car Park Expansion Dispute

Sir Richard Branson’s space tourism company Virgin Galactic says it will launch its first commercial flight before the end of this month.
The firm is targeting a launch window for the flight, which is called Galactic 01, from 27 June to 30 June.
After the announcement to investors, Virgin Galactic shares jumped more than 40% in extended New York trading.
In May, Virgin Orbit – a separate space firm owned by the UK billionaire – shut down, months after a mission failed.
Virgin Galactic said the first flight will be a scientific research mission, carrying three crew members from the Italian Air Force and the National Research Council of Italy to conduct microgravity research.
The company said its second commercial spaceflight will follow in early August, and it expects to operate monthly spaceflights from then on.
It marks a key milestone for the 19-year-old Virgin Galactic, which has had to overcome a series of accidents and technical challenges.
Last month, Virgin Galactic’s rocket plane, which is called Unity, was back in action after a gap of almost two years.
The vehicle, with two pilots and four passengers aboard, climbed high over the New Mexico desert in the US to the edge of space – before gliding back down.
It was billed as the vehicle’s final test flight before the launch of the firm’s long-awaited debut commercial service.
Virgin Galactic has sold more than 800 tickets to people who want to ride over 80km (260,000ft) above Earth.
The flights are designed to give passengers views from space at the top of its climb and allow them a few minutes to experience weightlessness. They cost $450,000 (£352,170) per person.
While Virgin Galactic focusses on space tourism, Sir Richard also had ambitions to launch satellites with his rocket company, Virgin Orbit.
However Virgin Orbit shut down in May after the failure of a mission which had been billed as a potential milestone for UK space exploration.
Earlier in the year, the firm, which was set up to launch satellites, paused operations to try to boost its finances.
Virgin Orbit has now sold off items, including its converted jet Cosmic Girl, and most of its headquarters in California.
It has been a tumultuous period for the Virgin boss.
Sir Richard told the BBC in May that he had personally lost around £1.5bn (£1.9bn) during the pandemic after lockdowns hit his airline and leisure businesses.
“There was a time when I thought we were going to lose everything”, he said. However, he has managed to retain his billionaire status – he has a net worth of £2.4bn according to the latest Sunday Times Rich List.
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Branson’s Virgin Galactic commercial space flights to start this month

More and more lenders are set to increase rates on mortgages, brokers have warned, as the fallout from the Bank of England’s rate rise continues to devastate homeowners.
The fresh blow to the housing sector comes as HSBC pushed mortgage rates up for the second time in one week in an unprecedented move for the high street bank.
HSBC said yesterday it was removing deals it introduced just on Monday following news that the central bank would keep interest rates high to cool inflation. It comes after the bank already pulled deals for repricing last Thursday after UK gilts surged.
Brokers have warned other lenders are likely to follow the move, with interest rates now expected to reach 5.75 per cent by the end of the year.
“I would say others will react in a similar fashion simply because they will tend to borrow money from the same kind of places,” Justin Moy, managing director at EHF mortgages, told City A.M.
“Whatever pressures are on HSBC will be similar to other high street lenders… also no lender really wants to be the number one lender… it is not a monocle that many actually want to have,” he said.
“No one wants to be left holding the baby because if someone has got some cheaper mortgage products, then as brokers we would naturally gravitate towards them.”
Moy also said that the volatile market has placed pressure on people to make decisions on their mortgages quickly.
“It worries me that, if nothing else, we as advisors and clients are becoming the situation where  you’re having to make quick snap decisions, which might be right, but also maybe be wrong [for homeowners].”
The move will hit prospective buyers and homeowners looking to reinstate their payment plans the most.
New analysis by the Centre for Economics and Business Research (CEBR) showed  that London homeowners looking to renegotiate their mortgage this year face a whopping £7,300 rise in annual costs in the wake of high inflation.
Chris Sykes, technical director at Private Finance, said: “I quoted a single first time buyer £1,900 monthly payments last week and then this week it would be £2,150, it is so hard to make a property buying decision with the instability of a market and not knowing what your payment would be until after an offer is accepted, especially if an offer takes a while to be accepted.”
“It would be great if lenders would allow you to pay, pre-finding a property, a booking fee in order to secure a rate and buy yourself that security.”
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More lenders expected to hike mortgage rates following HSBC, brokers warn

Event platform Hire Space has predicted that businesses will make thousands of hours’ worth of savings annually on meetings and events, by accessing new technology that allows venues across the world to be booked in a few clicks online.
The technology start-up, backed by the founder of restaurant booking app TopTable.com, has introduced instant booking technology, which enables businesses to book and pay for over 3000 of the 100,000 venues it works with instantly. The company expects the number of venues available to book instantly to quadruple in the next 12 months. This translates to thousands of hours of savings on venue negotiations, signalling a significant step forward for the £84bn UK events sector, which has prioritised efficiency savings as it rebuilds from the Covid-19 pandemic.
Hire Space Co-founder, Edward Poland, describes the technology as groundbreaking in the events world. “Events have lagged behind other sectors when it comes to instant booking. This is the start of a new era which will empower event bookers to become more efficient in their roles, and mean huge savings for businesses. A company with typical enterprise meeting and event requirements stands to save thousands of hours of administration time.”
Hire Space’s technology allows employees tasked with organising meetings and events to search and discover venues using search filters including price, location and capacity. They can then book directly, without the need to create unnecessary back and forth with suppliers. Hire Space also offers an enterprise service, Hire Space 360, which provides integrated sourcing, smart payment and contracting solutions for businesses with large meeting and event programs.
Luke Fagg, Senior Marketing Manager at CoachHub, a client of Hire Space 360, reports: “Hire Space has saved us countless hours negotiating with suppliers as well as offering excellent logistical support. We are really looking forward to the launch of their instant booking service that I believe will take this to a whole new level.”
As Poland states: “The traditional model of booking meetings and events through a convoluted process of searching for suitable venues, and spending days of back and forth discussing price and availability with the venue, is being turned on its head. Whether you’re a large corporate with a multi-million pound events program, or a busy PA tasked with booking the office Christmas party, this technology provides huge time and cost upside.”
Abby Darke, Executive Assistant at Acrisure, said: “Hire Space’s technology and support meant I could ultimately organise a successful event whilst juggling my other priorities. The ability to quickly find the ideal venue, and book it without hassle, was transformational.”
Last year an industry report by Verified Market Research estimated that the global meeting and events industry was worth $886.99 billion in 2020, and is projected to reach $2,194.40 billion by 2028. Adam Parry, Founder of Event Industry News, a leading events industry publication, said: “What’s happening in meetings and events is the start of a transformation similar to that witnessed by the travel sector two decades ago, when companies such as Expedia and Hotels.com fundamentally changed the landscape by making supplier inventory more readily accessible. It’s a rapidly changing business environment which will be worth billions in savings.”
The demand for streamlined technology around meetings and events has been a major focus for businesses hit by challenging economic times. According to a report by ICE (In-House Corporate Event Planners), some event costs have gone up by as much as 40%-60%, leaving companies grappling with reduced resources and tightened budgets post-pandemic.
In these challenging times Hire Space has seen a 187% increase in take up of its enterprise solutions from businesses looking to deepen digitalisation to create cost-savings since the pandemic. The business is continuing to invest in the future of meeting and event booking, including the release of an AI-driven recommendation tool for release in the near future, and is anticipating sustained emphasis on speed and efficiency from its clients through the next 24 months.
As Poland says: “Procurement has been a major time drain in events, particularly since Covid. Tools like Hire Space 360 and instant booking harness technology to cut this time drastically, giving event planners back critical time to focus on their events.”
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Hire Space forecasts thousands of hours’ worth of savings for businesses through new instant venue booking technology.