Scotland’s £78 million innovation fund

Scotland’s First Minister Nicola Sturgeon has announced a £78 million innovation fund to help Scotland’s businesses grow and develop.

The First Minister unveiled the plans in front of Scottish business leaders and members of the Scottish Council for Development and Industry (SCDI).

The plan is to help businesses create 1,000 new market-ready products and services to help boost the Scottish economy and improve the lives of people worldwide.

‘‘We want to support ambitious and innovative companies in every corner of Scotland. And we want those companies to develop and profit from new products, which improve the wellbeing of individuals around the world,’’ said Sturgeon.

According to a recent BDO LLP report, Scotland’s output increased in the summer, despite the productivity issue that is currently affecting Britain’s businesses.