Co-operative Development Scotland (CDS) is offering £30,000 worth of cash and support to encourage companies to work together on new projects.

The inaugural Collaboration Prize aims to encourage businesses to consider working with others to form a new consortium co-operative. Co-operatives are collaborative vehicles that play an important role in creating globally-competitive businesses. They enable employees, businesses and communities to work together to fulfil shared interests.

CDS is calling for interested parties to pitch ideas by the end of July, with up to three winning concepts each receiving a cash prize of £5,000 and a further £5,000 of support to get the business off the ground.

With a combined turnover of £4 billion and employing around 28,000 people, Scotland’s 550 co-operative businesses currently play a key role in driving Scotland’s economic growth.

The deadline for entries is 31 July 2012 and winners will be announced later this year in August.

Find out more, or call 0141 951 3055.