The new spirit of partnership and collaboration between universities in the east of Scotland is beginning to reap tangible rewards, attracting major investment and the promise of new jobs through catalysing commercialisation activity. Moves are now swiftly being made by the technology transfer offices at the Universities of Dundee, Aberdeen and St Andrews, to channel the pipeline of entrepreneurial ideas into business reality.
This week, two separate cash injections were announced, specifically to boost entrepreneurial activity. University Challenge funding of £2.25 million was announced to the Universities of Dundee, Aberdeen and St Andrews - who also share in a further £2 million government award made to the Scottish Institute for Enterprise which has now been extended to all Scottish universities.
Mr James Houston director of the University of Dundee's Research and Innovation Service said: "The ability to attract this level of funding underscores the power and the value of a east of Scotland partnership. Individually we have a great deal to offer but the combined clout of the three historic universities of the east of Scotland - Dundee, Aberdeen and St Andrews - delivers a very potent package. Now that the universities of Aberdeen and St Andrews have joined the Scottish Institute for Enterprise,of which Dundee was a founding member, we can expect to see a real and very tangible acceleration of commercial activities emerging from the academic sector in east Scotland."
Ms Liz Rattray company development manager at the University of Aberdeen,said: "The two cash boosts to the Universities provide a tremendous opportunity for the innovative technologies arising from the research of the Universities to be turned into commercial opportunities. The University Challenge Fund will further build upon the University of Aberdeen ’s significant investment in medicine, medical sciences and the life sciences. The ultimate aim is to generate a high level of economic activity in the region through the creation of spin out companies."
All three universities acknowledged the importance of the support of the local enterprise companies in this initiative.