EIT Digital, the European digital innovation organisation, has attracted €2 million (£1.8m) to boost commercialisation in Scotland’s tech sector.
EIT, which launched its Scottish base at the Edinburgh Bayes Centre in April, said the investment will help bring innovative products to market.
The funding comes as EIT launched two industrially-driven doctoral programmes focused on fintech and cyber security at the University of Edinburgh. It aims to create more than 40 PhDs co-sponsored by EIT and industry partners, with negotiations underway to launch further programmes at other Scottish institutions.
EIT works with more than 200 European corporations, small businesses, start-ups, universities and research institutes.
Around 75 per cent of the investment is EU-funded, with rest contributed from partners.
UK director Morgan Gillis said EIT had “brought fresh financial investment into Scotland from the EU and facilitated new lines of commercial collaboration between Scottish entities and European counterparts".
Innovation minister Ivan McKee said: “Our vision is of a Scotland where innovation is an intrinsic part of our culture, society and economy and I am delighted that EIT Digital supports these aims. It aligns business and academia to raise the profile of our digital assets across Europe, helping to attract both inward talent and investment while connecting Scotland’s businesses to experts and potential partners.
"This is how Scotland will succeed, by having the public and private sector collaborating, pooling ideas to work towards a common goal of success, and continuing to connect with our European partners.”