UK: Funding Boost for Glasgow Technology & Innovation Centre

A cash injection of £6.7 million will complete the funding for a major centre for research and innovation in Glasgow, Alex Neil said today.

The European Funding for the Technology & Innovation Centre (TIC) at Strathclyde University will help develop a world leading centre for the development of renewable energy technologies and enabling technologies, including pharmaceutical manufacturing, advanced engineering and health technologies.

Capital funding of £89m has already been secured from a range of partners, including Scottish Enterprise & Scottish Funding Council, with the £6.7m ERDF contribution being the final piece in the jigsaw, enabling the project to proceed.

The university, alongside industry partners, aims to more than double the scale of research investment from £70m to more than £150m over the next 5 years and create up to 500 new, high value research, technology and engineering jobs.

Mr Neil, Cabinet Secretary for Infrastructure and Capital Investment said:

“It is a substantial boost for our renewables industry that we have secured the final £6.7 million that will enable this world class project to go ahead.

“I am sure this project can prove a real boost for our economy, securing massive research investment and hundreds of new jobs.”

“I am absolutely determined that we focus our investment from areas like European funds on these kind of high value projects that create jobs and ensure we fully exploit our massive potential in areas like renewable energy.

“For the world class expertise we have in areas like renewables to flourish, we need to put in place the right infrastructure and superb facilities.

“That is exactly what the Technology & Innovation Centre (TIC) at Strathclyde University will provide and it is tremendous news that we now have all the funding needed in place.

Energy Minister Fergus Ewing said:

“Scotland leads the world in renewable energy, with astounding green energy potential and vast natural resources, and we have a responsibility to make sure our nation seizes this opportunity to create tens of thousands of new jobs and secure billions of pounds of investment in our economy.

“International corporations and domestic firms are investing for the future in Scotland’s world leading renewables industry, and an industry report has shown that there are already 11,000 jobs in renewables in Scotland.

“The work that will take place at the TIC will help us build on this, developing the innovative technologies which will help us ensure generations to come benefit from Scotland’s green energy revolution.”

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Offshore WIND staff, June 11, 2012; Image: University of Strathclyde