Scottish Enterprise boosts business for 231 entrepreneurs

Scottish Enterprise boosts business for 231 entrepreneurs

Scottish Enterprise provided a boost to Scottish SMEs after supporting 231 entrepreneurs leading early stage companies.

The figure exceeds its first year target, of between 130 and 180, in a three-year plan designed to provide high growth early stage companies in Scotland.

In a bid to achieve this goal Scottish Enterprise provides targeted training and support designed to increase ambition and competitiveness in SMEs, as well as give them the best chance for creating internationally competitive ventures.

Over the course of three years, Scottish Enterprise aims to assist 550-700 entrepreneurs in total.

Help from Scottish Enterprise includes its High Growth Spinout and Start-Up programmes, as well as partnerships with other organisations and Scottish universities on initiatives such as the Engage Invest Exploit investor showcase.

Firms which have benefitted from this support include Mironid, a medical drug discovery company,  which recently completed an initial £4.3m Series A investment, and SIRAKOSS Limited, which has secured a series of  clients in key international markets after its own successful Series A funding round of £3.1m.

The High Growth Start-Up programme helps growth entrepreneurs to create and develop new businesses which have the potential to achieve significant revenues or external investment within 5 years

It primarily focuses on companies working in the Energy, Technology and Engineering, Life Sciences and Chemicals and Digital sectors, but which often play into other sectors.

Other firms which have benefitted from Scottish Enterprise’s start-up support include Shot Scope, a wearable golf game analytics tool, East Coast Oil & Gas (EC-OG), an engineering and management company, and clinical development company TC Biopharm.

 David Hunter, inventor and managing director of Shot Scope said: “Without Scottish Enterprise support we wouldn’t be in the position we are today, having designed, manufactured and now launched a brand new wearable technology which will help golfers the world over improve their games.

“For entrepreneurs with the drive to make their ideas a reality, Scottish Enterprise can provide the advice and support at an early stage. This makes all the difference to a small company with big ambitions.”

Eleanor Mitchell, high growth ventures director at Scottish Enterprise said: “Companies like Shot Scope, East Coast Oil and Gas, Mironid, SIRAKOSS and TC Biopharm are perfect examples of many commercially viable, innovative and passionate companies looking to do great things in and beyond Scotland.

“It is so important to equip our early stage entrepreneurs from the beginning to think big and approach their ideas strategically, so that they have the best chance of success.

“By focussing entrepreneurship support at the crucial earlier stages of growth, we will help more companies develop sustainably, yet at pace, which will have a positive impact on the economy.”



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