A fund to help inspire more Scottish entrepreneurs to start or
scale up their businesses has been relaunched.
The Ecosystem Fund is being widened this year to include
initiatives encouraging young people to consider entrepreneurship
from an early age. Applications providing access to support
services for under-represented groups including women or those
from disadvantaged areas will also be considered.
Community groups, non-profit making organisations, industry
bodies, colleges and universities are amongst organisations
invited to bid for funding to help boost entrepreneurial activity
across Scotland. Grants of up to £50,000 will be available.
Projects could include:
- showcasing Scotland’s start-ups globally to attract talent,
investment and strategic partners
- networking events allowing founders, investors and partners
to share expertise and foster connections
- training, mentorship and identifying growth opportunities by
providing funding for staff, equipment, meeting places or
programmes for start ups
- encouraging entrepreneurs who support fair work and
environmental good practice to make a positive impact on
communities
- the promotion of learning and teaching in entrepreneurship
- tackling barriers or discrimination preventing women and
other social groups from accessing support
Wellbeing Economy Secretary said:
“This expanded funding will build on Scotland’s international
reputation as one of the best places in the UK to do business and
help make an impact across the business community. Despite
representing less than 1% of businesses, start-ups generate more
than half the value of all small and medium-sized businesses. The
fund will spark innovation while fulfilling our potential to
nurture many more inventive new start-up companies and driving
sustainable growth.
"We need to instil enthusiasm for business and entrepreneurship
at all levels from an early age, which is why I encourage
collaborative proposals from a wide range of sectors to enable
connections and exchange of ideas. In so doing, we can help those
who establish businesses to improve lives – such as advancing
renewable energy technologies or creating apps that help tackle
food waste.
“The Ecosystem Fund is an important step, but we must make
further progress expanding entrepreneurial access and opportunity
– ensuring that everyone, no matter their background, has the
chance to fulfil their potential. Together we can remove barriers
and open up access and opportunity to budding entrepreneurs
across Scotland. By uniting the business community around this
goal, we can create a wellbeing economy which is fair, green and
growing.”
Chief Entrepreneur recommended measures to support
new businesses in his August 2020 Scottish Technology Ecosystem
Review. Mr Logan said:
“Just as it takes a village to raise a child, it takes a vibrant
entrepreneurial ecosystem to raise a start-up. The Ecosystem Fund
recognises and supports the vital enabling work of our
ecosystem-building organisations. It will accelerate Scotland’s
journey towards being an internationally recognised Start-up
Nation.”
Background
www.scottish-enterprise.com/ecosystem-fund
Scottish technology
ecosystem: review - gov.scot (www.gov.scot)
The second phase of the Ecosystem Fund will begin paying Scottish
Government grants from October and will cover activity up to
March next year. It will be delivered in partnership with
Scottish Enterprise.