Galt Global Review

QFS 360

August 19, 2003
business digest


European Roundup
by Mario Caciottollo

headlines:
UK government steps up to assist lower income students
Scottish biotech company secures funding for global strategy
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UK government steps up to assist lower income students
Head teachers in England have backed the idea that the nation’s sixth-formers should apply to university after getting their A-level results.

The Government has proposed the idea as much fairer than the current system of students applying before they take their exams, a system that relies on predicted results.

Currently, English students apply to university without knowing how good their grades are and in turn, universities make their offers in a similarly blind manner.

This system has been criticised for a lack of fairness and transparency, particularly in the way students from better economic backgrounds, coached and confident, are advantaged over those from poorer backgrounds - who are not expected to do as well.

The proposal was welcomed by the National Union of Students who said it would benefit teenagers from lower income families.

Also set in motion for this fall, is the government’s new weekly Adult Learning Grant of £30.00 per week to help young adults meet the costs of improving their qualifications.

The pilot scheme, aimed at students aged 19 – 30 with low incomes who are studying full time in order to get their first full level 2 qualification or their first level 3 qualification (two A-levels or equivalent), is part of a nationwide drive to improve the UK’s skill base.

Launching the scheme, Minister for Skills and Vocational Education, Ivan Lewis said, “The Adult Learning Grant is not a handout, but a hand up to get low income young adults to gain key skills and qualifications which will help improve their employment prospects and provide a route to a better life.”

Scottish biotech company secures funding for global strategy
The Edinburgh biotech company Stem Cell Sciences has announced a £2.5m funding deal.

The deal will be used to expand the company’s Scottish and Australian research operations.

Stem Cell Sciences (SCS) won £1.15million from the Scottish Enterprise Co-Investment Fund and the Archangels syndicate, as well as £1.2million from BioTech Capital, one of Australia’s largest life science private equity funds.

Funds committed by the Scottish and Australian-based investors will directly support the expansion of SCS’ operations in their respective territories. Dr Peter Mountford, chief executive officer of SCS said, “International co-investment is fundamental to the company’s plan to develop and distribute regenerative therapies via a global alliance of SCS companies.”

Scotland’s biotechnology sector, which includes stem cell research, is growing at almost twice the pace of the industry in the rest of Europe. In Scotland, the industry employs more than 25,000 people across 97 biotech companies and 328 support and supply organisations. Biotechnology is one of Scottish Enterprise’s three key development pillars.

Stem Cell Sciences specialises in stem-cell technology for drug discovery. Through the expansion of their Scottish and Australian labs, the company plans to develop therapies for diseases such as Parkinson's and diabetes.

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The European Commission has reported that unsolicited e-mail, or "spam", is estimated to have cost European businesses two-and-a-quarter-billion euros (£1.5bn) in lost productivity last year.

European Union (EU) legislation banning unwanted e-mail is due to come into force in November, but given the global nature of the Internet, it is feared it will have little effect.

According to the EU’s claims, the volume of unwanted spam e-mail is now so large that it threatens to stifle the Internet as an effective means of communication.

Between a third and one-half of all e-mails sent and received are believed to now be spam or junk mail.

There are fears that if spam is not checked, it could severely diminish the appeal of mobile-phone-based Internet services, which are about to be launched into mainstream use in Europe.