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A new technology partnership with Japan's RIKEN Innovation Capital has potential to boost life sciences investment in Scotland.

A groundbreaking new partnership has been formed with one of Japan’s leading research investment vehicles, in a move that will help Scottish life sciences and green technology companies tap into a $50 million investment fund.

In October 2013, we signed a strategic agreement in Japan with RIKEN Innovation Capital (RIC), the investment arm of Japan’s leading scientific research organisation, RIKEN.

The agreement will formalise RIC as one of our key global investment partners where together we will seek to co-invest in some of Scotland’s most promising life sciences and green technologies to help bring new innovations to market and grow Scottish companies into globally competitive international businesses.

The fund is on track to raise a total of $50 million by the end of this year.

Signing the agreement on behalf of Scottish Enterprise, managing director Paul Lewis said:

“RIKEN is a major player in Japan’s research and funding community and this new partnership represents an opportunity for Scottish companies to not only access significant international investment, but to collaborate with a world leading research institution to help develop and commercialise technologies for the future.

"RIC’s decision to partner with Scottish Enterprise reinforces Scotland’s reputation as a fertile breeding ground for new life sciences and green technologies and as a location where young companies with global potential are nurtured and supported to commercialise technologies and take them to the international marketplace.

“Scotland continues to produce exciting innovative young companies with emerging technologies, products and services that boast global potential and through international strategic agreements like this, our investment activities will continue to drive further investment and confidence in those companies and in Scotland.”

Mr Okuma, President of RIC commented: “We share Scotland’s ambition for international collaboration in the life sciences and green technology area and recognise the value of Scotland’s attractive environment for research and clinical studies and its sophisticated system to support leading edge technology companies."

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