Businesses based outside Scotland are encouraged to strengthen their relationships with Scottish academia through an incoming investment fund of £100,000.

Following a pilot program at the end of 2021, a new round of funding is offered through Interface and the Scottish Government, aimed at attracting companies to invest in Scotland by establishing a research and development partnership with universities.

Up to five awards of £10,000 each will be awarded to successful applications in this round, with another competitive call going out later in the year.

Earlier this year, six companies and universities each received £10,000. These included Romanian wellness company Therme Group and the University of Glasgow for health and wellness intelligence research to help build a business case for creating a Scotland’s Inclusive Wellbeing Center of Excellence.

Minister for Business, Trade, Tourism and Enterprise Ivan McKee said: “Scotland was the UK’s most attractive location for foreign direct investment outside London in 2021, with a 5.9% increase in projects, while incoming projects across Europe fell by 13%, and projects in the UK fell by 12.1%.

“Scotland has been the best performing region in the UK, outside of London, for eight of the last 10 years and for six consecutive years.

“As stated in the National Economic Transformation Strategy, we want to be vibrant and confident of our place in the world, where we can attract international investment in research and industries of the future, the new phase of the Inward Investment Catalyst Fund will support our ambitions.

Howell Davies, Head of Sector Engagement at Interface, said: “The pilot fund has attracted a range of high-potential innovative companies from England, South Africa, the United States and Romania, recognizing the expertise and state-of-the-art facilities that Scottish universities have to offer. , and we are excited to see who the fund will attract at this time.

“The Inward Investment Catalyst Fund responds to our ambition to attract inward investment that matches our value as a nation, our commitment to delivery and the strengths of Scottish universities.

“This creates a solution for potential investors to access these assets and use them to pursue their ambitions to expand and grow operations in Scotland, creating jobs for the Scottish economy.”

Don’t miss the latest headlines with our twice-daily newsletter – Register for free here.