Amanda Jack, a student at Glasgow Caledonian University, invented Plaster Masta to dissolve plaster casts and save patients from having their casts cut off with a saw.
Her idea has now won the Scottish Institute for Enterprise's (SIE) New Venture competition and a £5000 prize.
Amanda, who set up a company, Mediscot, to market Plaster Masta, said: "I am delighted to win. In practical terms it means I can pay the bills – being a nursing student it's not easy to fund each step of the process, such as paying suppliers or securing the patent.
"SIE has been wonderful and the business support I have won today will be very useful.
"When I first set up the company I was terrified – I didn't know what to do. I really wouldn't be where I am today if it wasn't for SIE."
Amanda developed Plaster Masta in 2011 after completing a student nurse placement within a plaster room.
After seeing the distress caused to patients she decided to research alternative ways of removing plaster casts.
The 32-year-old created a soaking solution which helps dissolve the cast.
The product now has a worldwide market.
Fiona Godsman, head of SIE said: "We have been astounded by the level of creativity and business acumen displayed by all the winners. The entrepreneurial spirit is very much alive in Scotland's universities."