Question reference: S5W-11916
- Asked by: Dean Lockhart, MSP for Mid Scotland and Fife, Scottish Conservative and Unionist Party
- Date lodged: 10 October 2017
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Current status: Answered by Derek Mackay on 31 October 2017
Question
To ask the Scottish Government, further to the answer to question S5W-10938 by Derek Mackay on 5 September 2017, by what date it expects the first business or organisation will receive support from the Scottish Growth Scheme.
Answer
It is not possible to speculate on a precise date.
There are currently two distinct products under the Scottish Growth Scheme: the £200m Scottish-European Growth Co-investment Programme (SEGCP) launched on 16 June this year, aimed at companies seeking equity investment of £2m or above; and the new and additional funding to the SME Holding Fund under SGS (announced in Programme for Government 2017) to support equity funding up to £2m.
Work progresses with a number of companies seeking to access investment support under the SEGCP. At this stage, five companies have been referred to the European Investment Fund (EIF) to be considered for investment from EIF accredited Fund Managers. Scottish Enterprise is providing a package of support to help individual companies become investor ready and, alongside the EIF, introducing companies seeking investment to relevant Fund Managers.
Under the SME Holding Fund, it is anticipated that the additional investment could flow to relevant companies from the start of November 2017, with the resources being fully invested by December 2018.