Innovation with Impact
As of November 2023, we can confirm that our leverage rate is 1:5.6, which means that for every £1 invested in SAIC, we generate £5.6 of industry and third-party funding into much-needed research to solve challenges in Scottish aquaculture. It is crucial that we keep demonstrating real-world benefits and return on investment from our activities. An independent economic impact assessment was conducted in 2021 to do just that. Scroll down for some of the highlights!
Frontline report into the economic impact of SAIC's activities
- SAIC projects will contribute to an increase in aquaculture turnover of £50m per year by 2026, of which £30m is directly attributable to SAIC.
- SAIC projects are forecast to create 600 new full-time equivalent jobs by 2026.
- The total value of the 60 projects included in the report was £52.7m. Of this, 60% (£31.4m) was contributed directly by industry partners.
- For these 60 research projects, SAIC leveraged a further £9.8m of external funding from other UK and EU sources.
- In other words: SAIC has turned £8.8m of public funding into more than double that amount by bringing a further £9.8m from other UK and EU funding sources into Scottish research and innovation projects.
- For every £1 of SAIC funding granted to research projects, a further £4.67 is leveraged from industry and other funding sources. [As of November 2023, this number has now risen to an impressive £5.6!]
Independent economic impact assessment produced by Frontline Consultants and economist Steve Westbrook, based on 60 SAIC-funded projects, October 2021
View our 2022 Annual Report
- 17 collaborative R&D projects with 58 project partners
- 220 Consortium member organisations
- 78 new or improved products, processes or services as a result of SAIC activities
- 49 SAIC-led events, eight of which had more than 100 delegates
- 54 press releases disseminating project news and other updates
- 43 SAIC-funded MSc students
- 5 SAIC-funded PhD students
- 7 SAIC summer interns
For a look back at our achievements and priorities from 2019-2021, click here to download our 'Sea Change' booklet. This booklet also contains mini-case studies; an introduction to our Team, Board and SISP members; and information on our recent rebrand.