The Scottish Inward Investment Catalyst fund has been launched by Interface and Scottish Government to support Scotland as a leading destination for inward investment aligned with our values as a nation. Attracting businesses to invest in Scotland has a critical role to play in shaping Scotland’s economy of the future and positioning the nation to survive and thrive in this changing global environment.
This new fund will support inward investment for companies not yet located in Scotland and seeking to establish stronger ties with academia in Scotland.
£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.
Scotland is fortunate to have world leading academics in a range of disciplines relevant to the nine key opportunity areas where Scotland’s strengths match global investment flows: Energy Transition, Decarbonisation of Transport, Software and IT, Digital Financial Services, Digital Business Services, Space, Healthtech, Transformation of Chemical Industries, and Food & Drink Innovation.
Minister for Business, Trade, Tourism and Enterprise, Ivan McKee, said: “Inward investment makes a positive and significant impact on Scotland’s economy, particularly in our research and development sector.
“Although only three per cent 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. This will help 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 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."
For more information about the Scottish Inward Investment Catalyst fund please visit https://interface-online.org.uk/scottish-inward-investment-catalyst-fund
The deadline for applications is Friday 10th January 2022.
Note to editors
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, Interface is a free and impartial service which aims to stimulate demand for innovation and help companies to collaborate with academics to solve business challenges.
Shaping Scotland’s Economy: Scotland’s Inward Investment Plan
The Inward Investment Plan articulates the important role that inward investment can play in Scotland’s economic recovery and in delivering our net zero ambitions. The plan’s clear, evidence-based approach considers Scotland’s strengths, inward investment flows and Scotland’s values and identifies nine opportunity areas for a new strategic focus. These are Energy Transition, Decarbonisation of Transport, Software and IT, Digital Financial Services, Digital Business Services, Space, Health Technology, the Transformation of Chemical Industries, and Food and Drink Innovation.
The plan defines inward investment as “a company or institution headquartered outside of Scotland that establishes a base of operations within Scotland, creating jobs and associated capital investment” and the purpose of the plan is to attract both foreign direct investment (FDI) and investment from the rest of the UK.