25 June 2010
Scottish Funding Council’s Innovation Voucher Scheme Exceeds Expectations

The demand for the Scottish Funding Council's Innovation Voucher Scheme, which aids first links between Scottish universities and small to medium sized enterprises (SMEs), is exceeding expectations after successfully matching more than 80 businesses to university research and development expertise. The scheme administered by Interface provides funding of up to £5,000 to universities for projects with Scottish SMEs. In return SMEs contribute a matching value of cash, staff time or access to facilities. The funding can be used for a broad range of collaborative activities including developing new products and services, improved production processes or experimental testing and measuring.

Businesses which have been helped by working with universities through the SFC Innovation Voucher scheme so far include several from Scotland's burgeoning "green" industries, including engineering for wave energy; thermo-imaging of buildings to assess insulation; carbon capture technology; and the development of environmentally-friendly packaging. Businesses in the food and farming industries have also benefitted from the scheme.

Michael Russell, Cabinet Secretary for Education and Lifelong Learning, said: "We will only achieve our goal of increased sustainable economic growth by ensuring our businesses work closely with our universities and colleges to allow Scotland's excellent research base to be exploited.

"This is more important than ever given today's challenging financial climate. Therefore I am delighted that the innovation voucher scheme has been extended to help companies take advantage of the wealth of research held in our institutions.

"These partnerships provide small and medium sized companies with access to new ways of working, provide novel solutions to problems and often results in long term working relationships. The collaborations that evolve from the voucher scheme are strong examples of our business community and university and college sectors working together for the continued benefit of the Scottish economy."

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