Scheme at a glance

  • The scheme is aimed at building on existing relationships between SMEs and HEIs in Scotland to continue the development of an SFC standard Innovation Voucher award.
  • Only SMEs that have had a successful SFC standard innovation voucher award are eligible to apply.
  • The company contributes an equal value in cash or in kind (such as staff time, materials or equipment) or a combination of both.
  • The voucher should be used to continue the development programme from the original Innovation Voucher project.
  • The company should identify a clearly defined issue or opportunity that will benefit from PhD/Masters student interaction within their business to set timescales.
  • The company must have suitable premises to host a student for the duration of the project.

Stages of application

  1. Following completion of a Standard Innovation Vouchers project the SME and academic partner meet to discuss Student Placement Voucher opportunity.
  2. SME and academic partner fill out the application form and sends to Interface.
  3. Interface reviews and may ask for further information before sending to the Scottish Funding Council.
  4. Scottish Funding Council assesses the application and communicates a decision.
  5. Collaborative project between academic partner and business commences and a final report is produced on completion of the close out meeting.
  6. On receipt of the final report to Interface the Scottish Funding Council makes payment to the academic partner.