Innovation At The Heart Of The Scottish Economy - Funding of up to £8m per annum to support innovation centre

18th January 2024

First Minister Humza Yousaf has announced long term funding to ensure innovation continues to grow and support Scotland's economy.

Annual funding of up to £8 million has been allocated to the Scottish Innovation Centres, delivered through the Scottish Funding Council (SFC).

The centres work with Scotland's colleges, universities and research institutes to drive innovation in businesses as well as the public and third sectors.

The announcement was made at the opening of the new National Retrofit Centre for Scotland at Built Environment Smarter Transformation (BE-ST) in Hamilton. This new facility will help to revolutionise the retrofit of buildings in Scotland, through use of new technologies, materials and processes such as Passivhaus. BEST supports Scotland’s construction sector helping the industry embrace innovations like drones, robotics and exo skeletons.

First Minister Humza Yousaf said, "Innovation and collaboration are at the heart of our work to grow our economy and that is why I am delighted to announce funding of up to £8m per year for the SFC’s new investment plan for the Innovation Centres.

“This is a long-term commitment that will deliver greater stability and allow them to sustain and deepen their impact.

“The centres allow businesses and organisations to innovate by working with the best from academia to develop new products and processes. This will drive positive societal impact and economic prosperity across the country."

Annual funding of up to £8m per annum has been allocated to the Scottish Innovation Centres, delivered through the Scottish Funding Council. This will support the Innovation Centres to strengthen relationships with colleges and universities, maximise the value of our universities and colleges and lead to greater impact for Scotland.