Figures released recently show that businesses in Fife invested a record amount in Research & Development activities during 2010.

Data from The Scottish Government indicates that the amount invested on Research & Development by Fife’s businesses increased by 35% between 2009 and 2010.

Both the Manufacturing sector and Service Sector within Fife increased their Research & Development activities substantially during 2010. Overall Fife now contributes 4.3% of Scotland’s total Research & Development expenditure.

Councillor Tony Martin, Strategic Chair: Environment, Enterprise & Transportation Committee was delighted: “This proves that Fife is becoming a smart, sustainable and inclusive economy, a place where firms are confident that an investment in Fife is an investment in the future. Research & Development expenditure represents one of the major drivers of economic growth and it is essential for Fife to continue at this high spend level, if we are to stimulate future growth.”

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To continue to support further investment in Research & Development the Fife Economy Partnership are holding a “Opening Doors to Innovation” conference, at the University of St Andrews, on the 24th January, which will allow businesses to meet some of the leading academics in the world and learn more about how they can help their business innovate and grow.

Through the Knowledge Exchange Partnership businesses can hear about some of the world-leading research work being undertaken and learn about how the knowledge exchange mechanisms engage with the University and key business to support the Fife economy.

(GK)