Extended voucher scheme

Business collaboration with universities and colleges in Scotland is expected to receive a boost following additional funding for the Scottish Further and Higher Education Funding Council’s (SFC's) voucher scheme.

Launched in February, the scheme initially offered match funding of up to £5,000 to help universities meet the costs of new ventures with small to medium-sized enterprises (SMEs). The latest round of funding will extend the scheme to include up to £3,500 of funding for colleges and increase the amount of university funding to up to £15,000.

John McClelland, chair of the SFC, said: ‘The response we received from universities to the voucher scheme earlier this year shows that there is a great deal of enthusiasm for sharing knowledge and experience among the education and business sectors.

‘The projects that we have already funded will bring many benefits to society and our recovering economy through new products and processes. I am in no doubt we will receive just as good a response from the colleges that already work closely with many businesses in their area,’ he added.