The fund was set up by Interface and Scottish Government to attract companies from outwith Scotland to collaborate with Scottish academic institutions to create future opportunities in R&D and manufacturing and grow the economy. IICF has awarded just under £60k to six projects involving universities and a college.

Business Minister, Richard Lochhead MSP, said: “Scotland is open for business and we are committed to attracting further overseas investment to help boost economic growth.

“Scotland remains the UK’s top location for inward investment outside of London and our world-class universities and academia have a vital role to play in helping attract potential inward investors to Scotland.

“The latest round of the Inward Investment Catalyst Fund has attracted an array of innovative projects, aligned with the Inward Investment Plan.

“The funding, backed by the Scottish Government, is an important tool in driving close collaborations and early development to kick-start new growth. I strongly encourage all interested businesses with innovative projects to apply for the next round of funding.”

Howell Davies, Interface’s head of strategic programmes and funding, said: “The catalyst funding is a valuable way to kickstart relationships and develop R&D activity in Scotland with the intention of leading to longer term impacts and economic growth in priority areas such as decarbonisation of transport, software and IT, and food and drink innovation.

“I would encourage other companies interested in investing in Scotland to use the fund to access the world-class research base we have here on our doorstep.”

The projects were each awarded up to £10,000. They are:

• AlgiSys UK Ltd and the University of Stirling’s project aims to determine the viability of a fermented algae-derived feed ingredient as a source of omega-3s and marine plant protein in aquaculture. The findings of this study hold promise in advancing sustainable aquafeed practices, reducing the dependence of Scottish aquaculture and salmon farming on fish oil and fishmeal.
• University of Edinburgh have teamed up with Aquallite Data Ltd to develop seafloor data integration software to enable the production of data models of the ocean floor to help de-risk offshore wind development and accelerate progress to a more sustainable future.
• Fermentation Technologies Ltd and Abertay University have developed a lab-based system for the production of a valuable and nutritious protein ingredient by upcycling spent grains from breweries and distilleries. The product has been successfully tested with several large food companies and is preparing for pilot-scale production. The funding will allow for a technical viability feasibility study.
• Gruppo Sismica are working with the University of Strathclyde on a project to pave the way for the use of HiStrA Bridges, the software developed by Gruppo Sismica, for the assessment of masonry arch bridges in Scotland and the rest of UK.
• Edinburgh College and Vaste Technologies are collaborating to develop a ground-breaking digital platform that connects biomass suppliers directly with bioenergy producers, streamlining market access and improving transaction efficiency. The platform will also verify the sustainability credentials of biomass feedstocks and monitor carbon emissions throughout the entire lifecycle, from procurement to distribution and use.
• ZIYX and the University of the West of Scotland will develop an early-stage proof of concept for educational games to teach young people about starting a business. The games will be integrated within a mobile platform that is currently being developed by the company. The aim of these games will be to enhance social mobility by making education on business subjects more accessible.

The next round of the Inward Investment Catalyst Fund is now open inviting companies outwith Scotland to collaborate with Scottish universities, colleges, research institutes and innovation centres. Details of the fund can be found here. The deadline for application is 15 November 2024.