OGIC Review 2014-2016
OGIC matches innovators in companies with the R&D capabilities in Scotland's universities, and provides partial-funding of the academic element of the project. They are working on a range projects spanning mechanical engineering, materials science, chemistry, as well as artificial intelligence software and even a psychology project – literally no innovation is off limits.
OGIC was conceived when the oil price was high (over $110 per barrel) – but was launched as the oil price collapsed – and continues to operate in an environment of sustained low oil prices. Despite the inevitable pain that the industry is suffering, they continue to find companies interested in innovation – they have 27 approved projects and another 46 “in the pipeline”. To date OGIC has invested £820,000 of government money into £1.5 million worth of projects – with a further £2.1 million of projects in that pipeline.