Principal of the University of Dundee Sir Alan Langlands welcomed the announcement: "This is very encouraging news for Dundee and reinforces the strong commitment the University has to making world beating science work for Scotland and the UK.
"The announcement comes at a particularly appropriate time - when we are poised to launch the new Centre for Enterprise Management to cultivate and inspire the entrepreneurial spirit among students and staff and to catalyse process of taking university activities into the commercial domain.
"The University has a well developed technology transfer office, strong working relationships with Scottish Enterprise Tayside and Dundee City Council's economic development group and a proud record of turning ideas and knowledge into product and services. Research income is £43m p.a. (on a turn over of £110 million) with about 25% coming from industry. The University has developed a strong intellectual property portfolio with more than 80 patents, 30 of which have been licensed. Licensing income in the six months since 1 August 2000 exceeds £1m.
"Two of the areas of greatest potential identified by the ministers in developing the Scottish knowledge economy are world-beating new drugs and technologies. Both areas in which The University of Dundee has a very strong hand and a major contribution to make. Indeed two of the UK's three most quoted bioscientists are at the University of Dundee. This extra cash will allow us to put in place the infrastructure needed for our scientists to develop key technologies to improve health & life quality and boost the economy.
"The University of Dundee expects to receive nearly £8 million through this package which, we understand, has been allocated on the basis of research ratings and research income - putting the University of Dundee third in line to Edinburgh and Glasgow. "