New college fund highlights commitment to innovation
30 May 2018
A £500,000 College Innovation Fund, set up by the Scottish Government to support innovation in Scotland’s economy, was launched by Paul Wheelhouse, Minister for Business, Innovation and Energy at West College Scotland.
Managed by the Scottish Funding Council (SFC), the College Innovation Fund will establish new and dynamic links between colleges and Scotland’s increasingly prolific innovation centres.
SFC has already established FUTUREquipped, a pilot project involving colleges and half of Scotland’s eight current innovation centres. The pilot will see innovation centres and colleges working collaboratively to demonstrate a new approach to skills training for the future needs of industry – led by industry itself. The money is also being invested in a pioneering College Innovation Accelerator Fund and in further support for the College Innovation Voucher Scheme.
Mike Cantlay, Chair of the Scottish Funding Council, said: “Colleges across Scotland already play an incredibly important role in helping businesses to be innovative. This funding takes things to a new level, especially in helping to exploit the very exciting opportunities being created through the innovation centre programme.”