Companies looking for significant investment will now be able to access an additional £200 million through the Scottish-European Growth Co-investment Programme.
The programme is the first part of the Scottish Growth Scheme, a £500 million financial package backed by the SNP Government, to help businesses thrive and grow.
Made up of £50 million from Scottish Enterprise and £50 million from the European Investment Fund (EIF), it is expected to lever over £100 million from fund managers across Europe for investment into Scottish companies.
Advice and support will be available from the Scottish Investment Bank, the investment arm of Scottish Enterprise.
Kenneth Gibson said:
“The foundations of Scotland’s economy remain strong, however The SNP Government continues to do all it can to invest further in our economy and stimulate growth. The Scottish Growth Scheme will provide a half-billion pound boost to support businesses and jobs at a time when Brexit continues to present a huge threat to jobs and prosperity in Scotland.
“This new multi-million pound programme is specifically designed for companies seeking large equity investment to support their growth plans. The new programme will open up a new pool of potential investors from across Europe. We want our businesses to be able to expand and create more job opportunities.”
Kerry Sharp, director of the Scottish Investment Bank, said:
“This is great news for Scottish companies with ambition. This new programme will allow for engagement with even more international investors and attract larger amounts of investment into Scottish companies. It will help to create jobs and growth in Scotland.
“Taking new and innovative products to market requires adequate financial commitment and support. It is precisely these strong initiatives between European and Scottish-based funds, along with the private sector, that will allow companies to prosper.”
Companies looking to secure investment or explore the option should in the first instance approach the Scottish Investment Bank which operates across Scotland to increase the availability of finance and help more Scottish businesses with growth and export potential access it.
Further details can be found here.