The Scottish Government has announced funding worth £100,000 to encourage businesses outside Scotland to collaborate and partner with Scottish academics, bringing in knowledge, skills and potential jobs.

The Scottish Inward Investment Fund will see awards up to £10,000 given to projects focused on one of nine key investment areas, including net zero, health, and energy transition.

The funding is designed to help cover the early costs of businesses working together with academic partners, including supporting the likes of feasibility studies, roadmaps to further investment, early-stage proof of concepts, or talent and skills building in R&D.

The fund, delivered alongside innovation support organisation Interface, is open to businesses of any size currently engaged or looking to engage with a Scottish university, college, research institute, innovation centre or research pool but without an existing base of operations in Scotland.

According to the Scottish Government, this new round of funding will provide an opportunity to combine innovation seed funding with academic expertise and commercial traction, building on the 34 projects supported since its launch in 2021.

Previously awarded under the scheme, Vaste Technologies worked with Edinburgh College to develop their online procurement platform to help bioenergy, biofuel, and biotechnology companies source reliable, sustainable materials for their operations. 

“The Inward Investment Catalyst Fund has given Vaste far more than capital,” said Evans Chelal, founder and chief executive of Vaste. 

“We’ve benefited from strategic open doors to key stakeholders, including customers, talent, and investors. Through this support, Vaste can scale faster, reach further, and deliver value than we could by ourselves.”

The fund is also designed to bolster the Scottish Government’s Inward Investment Plan which aims to make Scotland a more attractive destination for business, with all the projects funded through the initiative intended to support the Government’s ‘sales pitch’ narrative of the country as a progressive, inclusive sustainable economy with a clear set of values.

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According to Scottish Government figures, although only 3% of businesses in Scotland are owned outside of the country, these organisations punch well above their weight, accounting for 34% of employment, 50% of turnover in Scotland, and 63% of business R&D spending.

“Inward investment is critical to driving economic growth, supporting jobs and creating new ones – and Scotland boasts a remarkable track record in attracting investment from across the globe,” said Richard Lochhead, Scottish minister for business.

“A key factor in this success is the skills, expertise and innovation offered by our world-renowned universities and research capabilities.

“The Inward Investment Catalyst Fund is about bringing together Scottish academia and companies based outwith Scotland to collaborate on projects which have the potential to translate into future inward investment into Scotland. 

“The Fund has already led to several businesses establishing roots and operations in the country, and I look forward to this new round of funding acting as the catalyst to more successful partnerships.”

The deadline for applications to the fund is Friday, 11th July, 2025.