New initiatives taking advantage of Scotland's world-class
reputation as an innovation nation have been announced by the
Deputy First Minister .
Three projects, backed by £4.4 million, are designed to help turn
ground-breaking research across the country's universities and
colleges into high-growth businesses that create jobs and support
economic growth.
The package includes:
- £2.9 million for the Proof of Concept Fund which will explore
the commercial potential of research projects by developing
prototypes and pitching to investors, as well as analysing
markets to attract further investment
- £800,000 for the Spinout Pipeline Project which, led by the
University of Strathclyde, will help share commercialisation
expertise across Scottish universities, culminating in a summit
where innovators will pitch to potential investors
- £700,000 for the Entrepreneurial Campus Blueprint which will
help college students to develop business skills and link in with
investors
A further £141,000, spent over two years, will support a new
course at the University of Aberdeen to train 40 high school
computing teachers, better preparing future generations for
careers in tech-based businesses.
Scaling businesses account for the majority of net job creation
in the UK and their annual turnover is around £1.2 trillion,
highlighting the opportunity afforded to Scotland's economy by
investing in the drive to turn research findings into high-growth
start-ups.
Deputy First Minister said:
“The Scottish Government is fostering and supporting
entrepreneurial talent as part of strategic investment to
capitalise on Scotland's reputation as a start-up nation. The
economic opportunities presented by this are enormous.
“Our universities and colleges are the engines of innovation.
They are known the world over as the home of some of the
greatest ideas and inventions ever made and can present
real solutions to the challenges we face.
“This new investment underlines our commitment to realising
the economic potential of the incredible work taking place across
Scottish universities and colleges.”
Chief Entrepreneur Ana Stewart said:
"The world's leading entrepreneurial economies are often powered
by universities with strong entrepreneurial cultures. This is an
ambitious package which positions Scottish institutions as
drivers of start-up creation and growth.
“I look forward to collaborating with universities to maximise
the impact of this funding."
Professor Sir Jim McDonald, Principal and Vice-Chancellor,
University of Strathclyde, said:
“We are pleased to welcome the Scottish Government's continued
investment in universities as engines of economic growth through
excellent research, innovation and production of high-quality
skills. This new Proof of Concept Fund will help to translate
academic innovation into real-world economic and social impact.
“As the lead institution for the Spinout Pipeline Project, and a
leading entrepreneurial campus, the University of Strathclyde is
also pleased to continue to play a central role in strengthening
Scotland's entrepreneurial ecosystem.
"By harnessing the collective expertise of our universities, we
aim to accelerate the journey from breakthrough ideas to
market-ready ventures – creating high-value jobs, attracting
investment, and supporting the next generation of innovators.”
Background
Applications to the Proof of
Concept Fund are open.
Since 2011, Scottish universities have helped to produce 240
spin-outs.
This includes Neuranics, a 2021 joint spinout from University of
Edinburgh and Glasgow, which has developed state-of-the-art
sensors used across a variety of sectors, including in healthcare
and gaming, and has raised $8 million to accelerate its growth.
The company is also backed by an £800,000 grant from Scottish
Enterprise.
Another, Microplate Dx, is a multiple award-winning spinout from
Strathclyde, developing novel solutions to the global threat of
antimicrobial resistance.
Programme for Government
2025-2026
