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The phrase "despite interest" is grammatically correct and can be used in written English.
It is typically used to express an unexpected or contradictory outcome. Example: Despite interest in the product, sales have been declining.
Exact(59)
The 29-year-old also informed Real that he is only interested in joining United, despite interest from Manchester City, according to Sky Sports.
That was despite interest from Roma and Villarreal.
(Despite interest, the umbrellas are not for sale).
Despite interest from Melbourne Victory, Miccoli wanted to stay with Palermo.
He has just signed a deal to stay, despite interest from leading English clubs.
Despite interest from Paris Saint-Germain, City is De Bruyne's first choice.
It appears that Butch Davis will stay at the University of Miami, despite interest from suitors.
Giggs said yesterday he was staying put, despite interest from Internazionale.
Despite interest rates of twelve per cent, there were still few purchasers for the pound.
Houston missed the playoffs last season but Barnes signed a new contract, despite interest from Europe.
Despite interest from several companies, no one has taken any space yet.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com