- This is a proposal to award a subsidy of £129 million to BioNTech UK Limited (BioNTech).
- This subsidy is intended to support BioNTech’s expansion in the UK, focusing on Research and Development (R&D) and Artificial Intelligence (AI), with the goal of enabling BioNTech to develop new treatments for cancer, serious diseases, and vaccines.
- Our key takeaways from the Subsidy Advice Unit (SAU) report are:
- Assessments should address how market failures which relate to knowledge spillovers, in particular UK localised spillovers, are addressed by the Subsidy, relative to the counterfactual consideration.
- Assessments should provide a detailed analysis on how the subsidy might affect competitors and the broader market, showing an understanding of both potential benefits and risks in terms of market dynamics.
- The Assessment should show that the grant is proportionate to the expected benefits in terms of job creation, innovation, and economic development.
- For Assessment which refer to innovation and knowledge spillovers, there should be a more explicit connection between these spillovers and the anticipated policy objectives, specifically with regard to fostering innovation in the UK.
- A more detailed comparison of how the beneficiary was selected would provide stronger justification for the choice of recipient.
- Particularly for Assessments which consider life sciences and AI sectors, there should be a detailed exploration of the potential for trade distortions or unintended consequences for other global players.
Department for Science, Innovation and Technology, BioNTech UK Limited Scheme
Posted in Subsidy Advice Report Tracker.