Scotland Launches £2.95M Fund to Commercialize Breakthrough Research
A £2.95 million fund has been established in Scotland to commercialize groundbreaking academic research. Deputy First Minister Kate Forbes visited the University of Edinburgh Institute for Genetics and Cancer to see demonstrations of the funded projects, including a pioneering anticancer drug potentially 500 times more potent than current treatments.
The fund aims to derisk new technologies, attract investment, and achieve regulatory approvals through prototype development and market exploration. It will support 18 projects across 10 universities, addressing significant global challenges in various sectors.
One notable project is the anticancer drug developed by Dr. Helena Hartmann. The drug, which has shown promising results in lab tests, received £125,000 from the fund to further its studies and meet industry standards. Other funded projects include a laser system for detecting aircraft engine faults, a non-invasive ultrasound for breast cancer detection, and a sustainable palm oil alternative.
The fund is expected to bridge the gap between theory and practice, translating research into real-world impact and driving Scotland's economic transformation. Professor David Argyle, Vice-Principal of the University of Edinburgh, praised the fund for supporting academics in achieving commercial success and benefiting people's lives while strengthening the economy.
