Blockchain research and development company IOHK has partnered with the University of Edinburgh to produce and fund the institution’s first Blockchain lab.

IOHK, which already has similar agreements elsewhere such as in Japan, will invest up to $1 mln per year in the Scottish project. The goal is to bring together academics and students to collaborate on solving “industry inspired problems,” Forbes reports.

“Distributed ledgers is an upcoming disruptive technology that can scale information services to a global level. The academic and industry connection forged by this collaboration puts the Blockchain Technology Lab at Edinburgh at the forefront of innovation in blockchain systems,” Chair in Cyber Security and Privacy at the University of Edinburgh and IOHK Chief Scientist Professor Aggelos Kiayias commented.

The startup’s entry into the UK comes following a similar deal with the Tokyo Institute of Technology two weeks ago. Long-term, the plan is to participate in further markets worldwide to facilitate international collaboration.

“Our partnership with the University of Edinburgh provides unique opportunities for current students to become the next generation of Blockchain and cryptography leaders," Co-Founder Jeremy Wood added.

“As a headquarters for IOHK’s international academic research community, we expect to see the university facilitate innovative projects that drive how businesses and governments approach Blockchain and cryptocurrencies.”

The Royal Bank of Scotland, meanwhile, announced earlier this month it would be opening a Fintech hub in the Scottish capital, a project supported by the Scottish Parliament.