Data Lab benefits from £13.5m funding boost
Scotland’s data innovation centre, hosted at the University, has secured up to £13.5 million in Scottish Government funding.
The announcement follows The Data Lab’s success during its first phase of activity, in which it established Scotland as an international data science hub.
Since its launch in 2014, The Data Lab has used its existing funding from the Scottish Funding Council to attract and develop data talent in Scotland.
It has created and run educational programmes and events, and provided backing to Scottish innovation projects.
The new funding was confirmed by Minister for Further Education, Higher Education & Science, Richard Lochhead.
The funding for phase two will officially begin in April 2019 and run for five years.
The funding package exists of up to £9.5 million from the Scottish Funding Council, £2.5 million from Scottish Enterprise, £1 million from the Scottish Government’s Digital Directorate and £500,000 from Highlands and Islands Enterprise.
This new funding will allow The Data Lab to improve data innovation’s economic impact on Scotland, generate more jobs and build on its growing global reputation.
To date, The Data Lab has provided approximately £2.4 million to 66 projects, with the projects’ total value reaching £6.3 million.
The new funding will ensure The Data Lab continues supporting businesses across Scotland, with an expected investment of £18.9 million towards more than 100 new data-driven innovation projects.
We’re proud of the impact The Data Lab has had on Scottish business and innovation communities over the last four years and are pleased to receive further backing from the Scottish Government. The continuation of our work will help develop a strong data science community and accelerate Scotland’s economic growth.
This investment builds on the £100 million already invested in Scotland’s eight innovation centres, including The Data Lab, which are having a transformational effect on our economy. Scottish universities excel in data science. Together with the country’s rich data resources and advanced infrastructure, this provides the ideal environment for The Data Lab to thrive, benefiting industry, the third sector and public services.