The value to the Scottish economy of business collaboration with academia will increase from £17 million to £80m a year by 2018 and support almost 2400 jobs, says matchmaking body Interface.

Supported by the Scottish Funding Council, Interface was set up in 2005 to connect business to Scotland's 24 higher education and research institutes.

It has facilitated more than 700 collaborative projects, which it says have enabled Scottish businesses to increase turnover, create and safeguard jobs, secure export leads and maximise profitability.

In a new research report on the impact of knowledge exchange on companies, Interface found 95% predicting a rise in turnover and 57% expecting it to enhance profitability. Almost 30% of respondents said they expected the operating costs of their business to fall and half of these expected productivity to improve.

Four out of ten respondents discussing collaborative projects with potential academic partners hoped for a boost to exports.

David Watt, Scottish director of the Institute of Directors (IOD), said: "Interface is a unique model within the UK and has helped Scotland cement its position as a leader in knowledge exchange. While organisations benefit by identifying a solution to a business challenge, the universities and research institutions can advance research and develop expertise in an industry environment and forge connections with key industry figures.

"The partnerships also provide valuable experience for students and early stage career researchers."

Dr Siobhán Jordan, director of Interface, said: "Mutual collaboration between businesses and academia delivers tangible results. Not only do these collaborative partnerships boost the nation's GVA, they also create and safeguard jobs while enhancing Scotland's reputation on the global stage by developing export opportunities."

John Swinney, Cabinet Secretary for Finance, Employment and Sustainable Growth, said: "Innovative businesses, spanning all sectors and sizes – from micro to small and medium sized – are experiencing the benefits of working with world-class academics through the stimulation of new ideas and finding fresh approaches to their challenges.

"Interface has a very valuable role in that process and is to be congratulated on the positive findings set out in this report."