Inward investment support boosted by £100,000 for business – academic collaborations

Richard Lochhead, Minister for Business, at the Scottish Knowledge Exchange Awards 2025.

Another round of funding of £100,000 has been announced by the Scottish Government and innovation support organisation Interface to encourage businesses outwith Scotland to collaborate/partner with academics, bringing in knowledge, skills and potential jobs.

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

It 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.

The fund, which provides a unique opportunity to combine innovation seed funding with academic expertise and commercial traction, has supported 34 projects since its launch in 2021.

Minister for Business, Richard Lochhead, said: “Inward investment is critical to driving economic growth, supporting jobs and creating news ones - and Scotland boasts a remarkable track record in attracting investment from across the globe. 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.” 

Howell Davies, Interface’s Head of Strategic Programmes and Funding, added: “We are really starting to see the acceleration of impacts from this fund. Of the nine projects funded last year, three of the companies have set up or spun-out operations in Scotland: ZIYX, registered in Nottingham have established an office in Glasgow employing three staff with plans to expand; Italian-based Gruppo Sismicca have spun out a Scottish business in Glasgow, strengthening its ties with local academic partners for future innovation and Vaste, from London, have now based their headquarters in Edinburgh.”

Tech company Vaste worked with Edinburgh College to develop their online procurement platform to help bioenergy, biofuel, and biotechnology companies source reliable sustainable materials for their operations. Evans Chelal, Founder and Chief Executive of Vaste, said: “The Inward Investment Catalyst Fund has given Vaste far more than capital. We’ve benefitted 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.”

Scottish Development International are working with a number of the other recipients to support their journey in a “Team Scotland” approach.

The deadline for applications to the fund is Friday, 11 July, 2025. More information can be found at: https://interface-online.org.uk/vouchers/scottish-inward-investment-catalyst-fund/