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Number of awards made to Aberdeen projects doubled since last year

Scottish Enterprise (SE) has revealed that investment in new research and development projects with companies in Scotland totalled £74 million in 2010/11.

The figures, announced at today’s Scottish Technology Showcase, show that through its suite of R&D and innovation funds, SE invested £20 million in 179 separate projects with companies in Scotland. This helped to leverage a further £54 million investment in the projects by the companies themselves.

The figures also show that the number of R&D awards made to projects in Aberdeen more than doubled this year with 31 awards being made, where SE's investment of £1.3 million leveraging a further £8.3 million by local companies.

The investment through the R&D, WATERS and SMART: SCOTLAND grants is helping companies to develop new products, increase their competitiveness and access new markets, both at home and overseas. It’s helping sustain and create employment and is building on the strengths of Scotland in growth sectors, such as renewables and life sciences.

Speaking at the Scottish Technology Showcase, Paul Lewis, managing director of sectors and commercialisation at Scottish Enterprise, said: “These are very encouraging results. Over the past twelve months, we’ve supported more projects through our R&D funds and leveraged significant investment from the private sector.

“This is helping companies to sharpen their competitive edge and encouraging them to exploit new technology to improve their business. It’s supporting growth in those sectors where Scotland can compete internationally. This is vitally important, especially when you consider that independent research has shown that companies which continually innovate grow twice as fast as those that don’t.

“If we are to accelerate Scotland’s economy and boost long term growth and employment, we need to help more Scottish companies adopt this innovative mindset and our R&D funds are one of the ways we’re doing that.”

John Swinney, MSP and Cabinet Secretary for Finance and Sustainable Growth said “Scotland is recognised internationally for innovation and our role in shaping our modern world. As a nation, we have a long tradition of research and development excellence and this is demonstrated through the 300 companies exhibiting their business solutions at the Scottish Technology Showcase.

“The Scottish Government recognises the economic and social value of ensuring Scotland remains a hotbed of ideas and innovation and this is why more than £74.7 million of support was granted by Scottish Enterprise to research and development projects over the past year.

“This Government’s future economic vision for Scotland has a renewed focus on our growth companies, our growth sectors and growth markets. This includes doing all we can to capitalising on Scotland’s valuable knowledge and research base to encourage new economic opportunities and growth.”

One of the largest R&D grants to be awarded in the past year was to Toshiba Medical Visualisation Systems (TMVS) for £3 million towards the development of new medical imaging technology that will make it easier for clinicians to diagnose and plan treatment for patients in areas such as heart disease and cancer.

Other examples of innovative technology being developed in Scotland as a result of SE’s Innovation grants include Aberdeen companies, including:

• Antoxis – developers of drug compounds to lead the fight against cell-damaging free-radicals, associated with conditions such as Alzheimer’s and diabetes; and

• Walker Technical Resources – providers of engineered repair solutions to the global oil and gas market.

Companies operating in the energy sector secured the most number of grants with 49 projects receiving £8.6 million of SE investment, which leveraged £28.5 million from the companies. This reflects an increased focus on supporting the growth of the renewables sector and supporting the development of low carbon technologies.

Paul Lewis continued: “We know that embracing innovation is a key driver of growth and companies that innovate are more productive, they work more overseas and they employ more people.

“Our goal at Scottish Enterprise is to help create a culture of innovation within all companies and all sectors across all parts of Scotland. Our R&D funds are one way we’re addressing this but so too is our wider innovation support and specific programmes for key sectors such as the Food and Health Innovation Service, Interactive Scotland and our Tourism Innovation Fund.”

The Scottish Technology Showcase is Scotland’s largest cross-sector technology event and will provide innovative and practical technology solutions for companies to help them address real business challenges while a range of Scottish technology companies will be showcasing their innovative technology in action.

Up to 1500 local and international businesses and technology leaders from various industries are set to attend to network with key technology experts and learn how to improve their productivity and competitiveness.