Two agencies have drawn up a plan to cut red tape and create a more joined up system for Scottish businesses wanting to access financial and innovation support.

Scottish Enterprise and Innovate UK, the UK’s national innovation agency, say the new deal will deliver “further and faster” assistance.

Adrian Gillespie, chief executive of Scottish Enterprise, and Indro Mukerjee, his counterpart at Innovate UK, signed the agreement at the CAN DO Innovation Summit held in Glasgow.

They were joined by Susan Aitken, chair of the Glasgow City Region cabinet and leader of the City Council who also unveiled an Innovation Action Plan.

Mr Gillespie said: “Working alongside Innovate UK and local authorities allows us to work smarter on transformational projects in future industries that create jobs, wellbeing and prosperity.

“These new agreements will result in better collaboration and alignment of our activities, and will open up additional support for ambitious and innovative businesses across Scotland.

“They will also deliver a more straightforward and joined up system, that’s easier for companies and entrepreneurs to engage with.”

In the last five years, Glasgow City Region has received £195 million in funding for innovation through Innovate UK.

Scotland is one of the regions chosen for the Innovate UK Launchpad competition, which will provide up to £7m of support for the country’s flourishing biotech sector.

Mr Mukerjee said: “As the UK’s innovation agency, Innovate UK is focused on building strong partnerships across the UK to support innovation and drive economic growth.”

The Glasgow City Region’s Innovation Action Plan is the first in Scotland and sets the scene for a Scottish Action Plan due to be released next year which will align with Scotland’s Innovation Strategy.