Three University of Edinburgh projects are among the first to be awarded funding from the Scottish Government’s Proof of Concept Awards, receiving £434k in total to develop the innovative ideas into commercial success.
The projects include:
All three projects were supported from initial idea by Edinburgh Innovations, the University’s commercialisation service.
The £2.95 million Proof of Concept Fund will support the commercialisation of ground-breaking research across ten Scottish universities including the projects at the University of Edinburgh.
Deputy First Minister Kate Forbes saw demonstrations from three of the successful projects receiving funding during a visit to the University of Edinburgh Institute for Genetics and Cancer.
Ms Forbes said:
Our first National Innovation Week was a declaration of intent by the Scottish Government. Innovation must be our national endeavour and we are supporting it across all areas of society.
Scotland’s world-class universities have the ideas and inventions to help tackle global problems and improve lives. This new Proof of Concept Fund and will help bridge the gap between theory and practice, translating research into real-world impact which in turn drives Scotland’s economic transformation.
The successful projects that we are supporting are quite simply inspiring. They have the potential to be lifesaving and life changing.”
The pilot Proof of Concept Fund is awarded to projects that address significant global challenges across a range of sectors including Life Sciences, Quantum, Photonics, Aerospace, AI and Fintech.
Funding will enable researchers to demonstrate the feasibility of projects through developing prototypes, market exploration, and achieving regulatory approvals to derisk new technologies and attract investment. The projects have significant and largely untapped economic opportunities, with potential wide-ranging societal benefits.
Andrea Taylor, CEO Edinburgh Innovations said:
We’re delighted to have three successful Proof of Concept projects at the University of Edinburgh - a significant acknowledgement of our world-class research and our commercial focus.
This Proof of Concept funding from the Scottish Government is the right support at the right time, helping cutting-edge projects move from research to impact and improving lives. It is a key part in the innovation journey that enables universities to drive regional economic growth.
With the University’s commitment to innovation, EI’s commercial expertise and targeted funding we can significantly increase the number and impact of University spinouts leading to greater opportunity to scale businesses in Scotland.”
Summary of funded projects:
Commercialisation of Rotational Internal Flow Layer Engineering (RIFLE) into a market-ready vascular tissue model - £102,361.00.
Development of a unique drug development product which closely mimics vascular tissue, reducing the need for heart drugs to use animal testing.
Preclinical Development of First Superpotent Superselective mTOR Inhibitors for Cancer Treatment - £124,998.00.
Development of an anti-cancer drug which may be up to 500 times more effective against both blood and solid cancers than current treatments.
On-airport diagnosis of aircraft-engine health for sustainable aviation - £206,569.00.
A laser system which can detect faults in aircraft engines in five minutes, 25 minutes faster than current tools.
