Two Scotland-based companies are committing more than £4.7m to projects aimed at improving global competitive advantage and increasing revenue. The projects are being supported by £1.9m of Scottish Enterprise research and development grants and will secure 56 jobs.
The news comes as Paul Wheelhouse MSP, Minister for Business, Innovation and Energy visits both companies today to recognise and endorse their investment.
Oil and gas software company Sciencesoft‘s project is focused on increasing its revenue by over £21m, securing 28 jobs. The software engineering firm based in Glasgow has received £1.5m R&D funding from Scottish Enterprise towards its £3.6m project to develop an integrated solution for chemical enhanced oil recovery reservoir simulation.
Accelerate development of next-gen software
East Kilbride-based SHE Software specialises in configurable cloud-based health and safety software. It receives £415,000 in R&D funding towards its £1.1m R&D project to help accelerate development of its next generation software solution, Assure 2.0 and will secure 28 jobs.
SHE’s current market is mainly SMEs and smaller corporates where those with legal or functional responsibility for operations find traditional approaches to managing health and safety are no longer adequate.
The company’s ‘Assure’ solution is used by more than 160 organisations with half a million users worldwide. SHE expanded its presence into the Asia Pacific region in 2015 with Scottish Development International support.
Promoting innovation to support growth
Minister for Business, Innovation and Energy Paul Wheelhouse said: “Promoting innovation is an incredibly powerful way of supporting economic growth and creating a sustainably prosperous society – through boosting productivity, improving efficiency in use of resources and potentially enabling higher wages to be afforded.”
Jim Watson, Director of Innovation and Enterprise Services at Scottish Enterprise, said: “As Scotland’s innovation agency, we want every company in every sector to embrace innovation and reap the benefits it brings.”