The Scottish Inward Investment Catalyst fund has been launched by Interface and Scottish Government to support Scotland as a destination for inward investment for companies not yet located in Scotland, but seeking to establish stronger ties with academia here.
£50,000 is available to help businesses to partner with Scottish universities, research institutes or colleges to accelerate establishing a base in Scotland, with funding awards up to £10,000 in value.
Minister for Business, Trade, Tourism and Enterprise Ivan McKee said: “Although only 3% of businesses in Scotland are foreign owned, they are responsible for almost two thirds of business research and development spending.
“Furthermore, one third of all jobs in Scotland can be attributed to inward investment, along with almost half of Scottish GVA and three quarters of Scottish exports.
“The Inward Investment Catalyst Fund will strengthen ties between academic research and industry, helping Scotland to achieve its ambition to be a leading destination for inward investment that aligns with our values as a nation.”
Dr Siobhán Jordan, director at Interface, said: “The Scottish Inward Investment Catalyst fund is a fantastic opportunity for companies with no current operations in Scotland to gain access to world leading academic expertise as they forge deeper connections thereby creating jobs and leverage investment.
“Universities and colleges play an important role in attracting companies to Scotland, they are globally recognised sources of research and innovation and can ensure that a strong talent pool is available for companies investing in Scotland.
“This fund supports a key action in Scotland’s Inward Investment Plan positioning inward investment to play a key role in the creation of a fair, sustainable, inclusive and low carbon future in Scotland. ”
Interface connects businesses from all sectors to Scotland’s universities, research institutes and colleges.
Funded by the Scottish Funding Council, Scottish Enterprise, Highlands and Islands Enterprise and South of Scotland Enterprise, it is a free and impartial service which aims to stimulate demand for innovation and help companies to collaborate with academics.
The deadline for applications is 10 January.
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