Scottish Growth Scheme fund allocation to date/applications process: FOI release

FOI reference: FOI/18/01475
Date received: 28 May 2018
Date responded: 6 June 2018

Information requested

Scottish Growth Scheme:

Who is in charge of this?

How much money has been paid out to-date in loans, or investment guarantees?

How does one apply to it, or find out more information?

This page says nothing: https://www.mygov.scot/scottish-growth-scheme/

Response

The Scottish Growth Scheme is a Scottish Government initiative launched in 2017, targeting over 3 years, growth and exporting SMEs. It is an umbrella scheme covering a number of financial products: loans; guarantees; and equity funding. Two equity investment products have been introduced under the Scottish Growth Scheme, targeting early and later stage risk capital investment in SMEs. While there are currently no loans or guarantee products specifically available, a procurement process is currently underway to identify delivery agents to enhance the product range under the Scottish Growth Scheme.

Information on the scheme and its operational delivery is available at the web link you have quoted https://www.mygov.scot/scottish-growth-scheme/. This provides details on the current two equity elements available under the Scottish Growth Scheme. The first product is the Scottish-European Growth Co-investment Programme (SEGCP) which supports businesses looking to raise £2 million or more in equity finance to grow their business. SEGCP is delivered by Scottish Enterprise through the Scottish Investment Bank, in partnership with the http://www.eif.org/.

There is further information available on the https://www.scottish-enterprise.com/services/attract-investment/scottish-european-growth-co-investment-programme/scottish-european-growth-co-investment-programme-overview.

The second element is the new and additional ERDF funding under the SME Holding Fund - a £25m expansion - which helps new businesses find equity finance of up to £2 million. The fund is delivered by Scottish Enterprise through the Scottish Investment Bank, and private sector partners.

To pursue an interest in either product then please contact Scottish Enterprise.

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