The former Durham University spin-out is acknowledged for its outstanding performance in growing international trade.

The payment services company will select up to eight companies for the 12-month programme.

The PCH-owned incubator will invest $50,000 in each successful graduate, and has increased the size of its class from 10 to 15.

The financial data provider, valued at about $5bn last year, will raise up to $750m, with the proceeds to go to its shareholders.

The Scottish business competition has seen 111 entries for the 2014 competition, almost double the number of last year's submissions.

The five year agreement will further academic links and provide exchange and collaborative research opportunities.

Rusnano and Crocus Technology have invested an additional $60m in a joint venture they formed to produce semiconductors.

The new venture, partnered with Moscow State University, will provide support to early-stage projects.