Lord Robert Smith of Kelvin has underscored his ambition to see the Green Investment Bank through its privatisation process and says he is well on the way to a “full recovery” from a recent heart scare.

The Glaswegian was speaking exclusively to The Herald ahead of receiving the outstanding contribution prize at the Scottish Business Awards in Edinburgh last night.

The 71-year-old also outlined his optimism about the make-up of the Scottish business scene and believes it is “as good as I have known it as a business community”.

Lord Smith admitted he has not yet returned to work full-time yet after being hospitalised at the end of August when he fell ill at an official dinner with First Minister Nicola Sturgeon at Bute House.

However his recovery is going well and he said: “I am just gradually getting back and going to the odd board meeting.”

While Lord Smith intends to cut down his public speaking arrangements he remains committed to his portfolio of boardroom roles.

That includes remaining as chairman of the Edinburgh-based Green Investment Bank which has invested around £2 billion in 50 renewable schemes around the UK since it was launched in 2012.

The UK Government said earlier this year it intends to start privatising the bank with some reports suggesting as much as 70 per cent of it could be offloaded.

Lord Smith said: “I’m not giving up IMI, Forth Ports or the Green Investment Bank. I’m going to see that right through to privatisation.”

He also remains involved as chairman of regeneration agency Clyde Gateway and as chancellor of Strathclyde University.

Lord Smith also called on younger entrepreneurs to stretch themselves more by going onto different company boards, getting outside their comfort zones and developing themselves by asking for advice from older generations.

He said: “That is what I found really helpful. There were guys like Lord McFarlane around when I was on my way up.

“Guys like that were helluva helpful to me when I was coming through. He wasn’t in my industry or anything but just [gave] general advice.

“There are a lot of interesting people out there. A Tom Hunter, a Tom Farmer, wee Brian [Souter] in Perth and Ian [Wood] in Aberdeen. These guys love to give advice.”

Lord Smith stated his belief that connections between Scottish universities and companies are among the best in the world although not quite at Silicon Valley levels.

However he hopes that schools and universities can continue to encourage people to start their own businesses.

He said: “When I was at school no-one ever talked about setting up a business. They talked about being a bank manager or insurance agent.

“I know guys like Tom Hunter and Chris van der Kuyl go into schools to spread the word. If we continue to do that then people have role models.”

The business awards are organised by Josh Littlejohn, the founder of the Social Bite chain of cafes which offer employment to homeless people and commits to other charitable ventures.

Lord Smith expects Scotland can continue to be a leader in socially responsible business practices.

He said: “That really is in our psyche. That is to do with the Enlightenment and the way to redemption through education and you have to look after the poor and all the rest of it.

“There are huge examples. Look at what Josh [Littlejohn] has created from no beginning a few years ago.

“Also Tom Hunter pushed it so much back creating centres at Strathclyde and giving to charity. The same applies to Tom Farmer and Ian Wood and a lot of these guys.

“There are tremendous examples of that. You are not an island. You can’t just take out and not put back in.”