Local business to benefit from university expertise

A new fund started by two of Scotland’s leading universities has been made available to small businesses.

It is hoped that by utilising the academic expertise of Napier University and Queen Margaret University, firms will be able to overcome their problems, leading to higher turnover and profits.

The 2kT innovation fund will provide grants of up to £5000 to help companies to innovate, improve processes or solve problems.

Each company who applies for a grant will receive business development support and feedback regardless of any award being made.

In offering this service the Universities aim to benefit the Scottish economy through the creation of new services, processes and products.

Dr Brendan McGuckin, Napier’s Director of 2kT, said: “Innovation is the lifeblood of any successful economy.”

Discussing the new scheme, McGuckin went on to say that “The university partnership is focused on making the skills of our academics available to business in a fast, responsive and economical way. The 2kT Innovation Fund will help them access our patents and the expertise of our extensive academic base at Napier and Queen Margaret, tailoring our offering to suit the company need.”

Ilona Mair, Queen Margaret’s Director of 2kT, said: “It is often the case that many small companies have the potential and ambition to grow and develop through strategic innovation but just don’t have the resource or access to the expertise to help them achieve their goals. The aim of the 2kT Innovation Fund is to help them in that respect.”