Companies across Scotland are investing in their business growth through innovation, according to the latest figures from Scottish Enterprise (SE).

The figures, unveiled last week at the Scottish Technology Showcase, show that despite economic conditions, Scottish companies are still developing new products and processes, increasing their competitiveness and accessing new markets.

Scottish Enterprise has invested in major infrastructure projects including plans for an International Technology Renewable Energy Zone in Glasgow city centre and the Advanced Forming Research Centre at the University of Strathclyde's Engineering department.


The body has invested £16.7 million in 114 projects through its R&D and SMART: Scotland grants over the past year.

This has in turn helped to leverage a further £55 million of investment by Scottish companies in new research and development activity.

Paul Lewis, managing director of operations for Scottish Enterprise said: "We know that when times are tough, companies can be tempted to put off investment so over the past year we've had to look at ways to stimulate greater levels of interest. As well as helping our companies to invest in innovation, we also need to create the right business environment, where investment in new technology and new ideas can flourish and which will help us to increase Scotland's R&D capabilities.

Finance Secretary John Swinney said: "By continuing to focus on growth companies, growth sectors and growth markets, we are making good progress towards our goal of securing an optimistic future for Scotland's economy."

(NE)