Strathclyde University is opening its £90m ($136m) Technology and Innovation Centre (TIC) which the institution hopes will bolster commercialisation of research in Scotland.

TIC, funded by both the university and Scottish Government, took five years to construct, and will focus on areas such as cleantech, ICT, engineering, nanoscience, and life sciences. The centre is aiming to generate 700 new high tech jobs in the region, and attract more investment to Glasgow.

Steve Graham, chief executive of the TIC, said: “One of the aims of the centre is to ensure that we foster new business creation working with potential partners such as RBS. It is very important to us to partner with a bank like RBS. The university is committed to collaboration and and building relationships, so that our researchers and students can have access to the bank’s vast reach of corporate clients.”