Economic impact of Scottish academic collaborations hits £64.2m

The report by Interface, which facilitates academic and business tie-ups in Scotland, also projected that the long-term economic impact of such projects could increase to more than £195.3 million, supporting almost 3,500 jobs, if future expectations of the businesses are realised.

“Small and medium-sized enterprises play a crucial part in contributing to the economy and to our society and 95 per cent of businesses we support have fewer than 50 employees.

“That is why I warmly‎ welcome the role that Interface plays in connecting business and academia, and enabling SMEs to benefit from academic insight to drive forward their profitability and commercial success.

“Bringing together innovative and ambitious businesses with the research and discovery excellence of our universities is a winning idea for the Scottish economy and these figures show its value and its future potential.”