# Scottish innovation and university spinout support > Live situation record from CLSTR: https://clstr.news/situations/scottish-innovation-and-university-spinout-support > Updated: 2026-10-03T13:00:00.000Z. Sources: 5. Developments: 2. A report by the Royal Bank of Scotland identified 358 Scottish businesses with significant untapped growth potential, noting that Scottish innovation firms have attracted £6.4 billion in equity investment since 2011. The report highlighted that 367 of the 1,737 innovative businesses in Scotland originated as university spinouts and recommended improving access to growth capital and commercialisation pathways to unlock economic growth. Following these findings, the Scottish Government announced a £2.92 million investment through its Proof of Concept fund. This funding is directed toward seventeen projects across seven universities to assist with prototype development, market analysis, and investor pitching. Cabinet Secretary for Economy, Tourism & Transport Stephen Flynn noted that the government has invested nearly £6 million over the last two years to support the success of Scottish spinout companies. ## Timeline ### 2026-10-03: Scottish Government invests £2.92 million in university spinouts The Scottish Government is awarding £2.92 million to seventeen university projects to help transition research into commercial spinout companies, covering sectors from healthcare to environmental monitoring. 3 sources. https://clstr.news/cluster/scottish-government-invests-292-million-in-university-spinouts ### 2026-09-14: Royal Bank of Scotland identifies 358 untapped Scottish firms A Royal Bank of Scotland report identifies 358 Scottish businesses with untapped growth potential, noting that Scottish innovation firms have attracted £6.4 billion in equity investment since 2011. 2 sources. https://clstr.news/cluster/royal-bank-of-scotland-identifies-358-untapped-scottish-firms --- Cite as: Scottish innovation and university spinout support. CLSTR, https://clstr.news/situations/scottish-innovation-and-university-spinout-support