£2.95 million has been awarded in Scotland to harness academic ideas for commercial use.
18 projects have received pilot funding to develop innovative ideas into commercial success. This includes an anti-cancer drug that researchers believe may be up to 500 times more effective than current treatments.
The £2.95 million Proof of Concept Fund will support the commercialisation of ground-breaking research across ten Scottish universities.
The pilot Proof of Concept Fund is awarded to projects that address significant global challenges across a range of sectors including Life Sciences, Quantum, Photonics, Aerospace, AI and Fintech.
Other winning projects include: a laser system which quickly detects aircraft engine faults; a non-invasive, radiation-free ultrasound to detect breast cancer; and a more sustainable and healthier alternative to palm oil.
The funding will be used to enable researchers to demonstrate the feasibility of projects through developing prototypes, market exploration and achieving regulatory approvals to derisk new technologies and attract investment.
On a visit to the University of Edinburgh Institute for Genetics and Cancer, Deputy First Minister Kate Forbes saw demonstrations from three of the successful projects receiving funding.
She said: "Our first National Innovation Week was a declaration of intent by the Scottish Government. Innovation must be our national endeavour and we are supporting it across all areas of society.
“Scotland’s world-class universities have the ideas and inventions to help tackle global problems and improve lives. This new Proof of Concept Fund and will help bridge the gap between theory and practice, translating research into real-world impact which in turn drives Scotland’s economic transformation.
“The successful projects that we are supporting are quite simply inspiring. They have the potential to be lifesaving and life changing.”
Professor David Argyle, Vice-Principal and Head of College of Medicine and Veterinary Medicine at the University of Edinburgh, said: “The transition from ground-breaking discovery to real-world application is one of the most critical stages in research. This funding is a welcome endorsement of the exceptional innovation underway across Scotland, supporting academics to achieve commercial success. At Edinburgh, the investment in pioneering cancer treatments, lab-grown tissue models and improved detection of aircraft faults shows how this work can hugely benefit people’s lives while also strengthening the economy.”
