Impact of Interface reaches £64m
28 Sep 2017
Projects between university academics and small businesses, supported by Interface, have generated £64.2 million gross value added (GVA) a year for the Scottish economy as well as supporting around 1,060 Scottish jobs, a new report has revealed.
The report shows that 46% of businesses have increased their turnover and 31% have increased employment as a result of collaborating with academia. 54% expect turnover and employment to increase in the future as a result of the collaborative project.
Academics and research teams benefited from the business-led collaborations through introductions to new research areas, entering international markets, developing intellectual property and commercial links and increased reputation and new skills acquired by staff.
Several of the companies interviewed had experienced transformational effects on their business culture as a result of their interaction with Interface, with many reporting that the collaboration had been a catalyst for a long-lasting relationship with academia.
Dr John Kemp, Interim Chief Executive of the Scottish Funding Council which funds Interface and the Innovation Voucher programme, said: “Bringing together innovative and ambitious businesses with the research and discovery excellence of our universities is a winning idea for the Scottish economy and these figures show its value and its future potential.”
Read a summary of the report [PDF].
The report was launched following a visit to Interface from Paul Wheelhouse MSP Minister for Business, Innovation and Energy and Shirley-Anne Somerville MSP Minister for Further Education, Higher Education and Science.