28 September 2015

First Minister Nicola Sturgeon today confirmed Scotland is set to become an ‘innovation nation’ thanks to a new £78 million funding package which will help Scottish businesses develop almost 1,000 new inventions, products and services.

"Innovation nation" – @NicolaSturgeon is to unveil details of a new £78m business fund http://t.co/fWStUY7yGA pic.twitter.com/dqPfoJY4JY

— BBC Scotland News (@BBCScotlandNews) September 28, 2015

The First Minister made the announcement while speaking to 80 business leaders and SCDI members.

Rt Hon Nicola Sturgeon @ScotGovFM addressed SCDI Forum re #Internationalisation At our Business engagement session 2day #Innovation is theme

— SCDI (@SCDINews) September 28, 2015

The measure is the next key step in the Scottish Government’s Economic Strategy which focuses on investment, innovation, internationalisation and inclusive growth.

The £78 million fund will be available to business between now and 2018 and will offer a bespoke support service of financial support and specialist advice.

The fund is also expected to allow an extra 1,200 businesses to work directly with our universities.

First Minister Nicola Sturgeon said:

“We want to support ambitious and innovative companies in every corner of Scotland. And we want those companies to develop and profit from new products, which improve the wellbeing of individuals around the world.”