Glasgow City Region’s £160m Investment Zone has launched an open call to businesses for project funding bids.

To be eligible to bid for the funding, businesses must fall within three key sectors; Life Sciences, Advanced Manufacturing and Precision Engineering, and Digital and Enabling Technologies.

Businesses are asked to submit their proposals through a new online portal by 5pm on March 31.

Glasgow City Region said bidders must be able to provide at least 60 per cent of the project funding which would be matched by 40 per cent of public funding in capital, revenue investment, or tax incentives through the Investment Zone.

Projects are not constrained to any specific geographical area within the Region but must be based, now or in the future, within the Region's perimeter.

The council said the application form requires details about what and how the project will deliver, along with the match funding.

Once all bids are assessed, the final stage in the Glasgow City Region Investment Zone process will be the collation of the Region’s formal proposal.

This includes the package of projects for consideration and approval by the UK and Scottish Governments.

The Glasgow City Region Investment Zone, alongside another Scottish zone, will benefit from investment, tax reliefs, and other incentives over a 10 year period.

This effort aims to enhance the Region's innovation economy following last year’s announcement.