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£1m for Scottish start-ups

Nov 19 2008

A £1 million fund has been launched for Scottish entrepreneurs to help them set up firms with a social or environmental purpose.

The Social Entrepreneurs Fund was launched by enterprise minister Jim Mather yesterday, who pledged to help companies get off the ground.

New ventures will be able to access the money from March next year, with it being aimed at improving 'capacity, capability and financial sustainability' in the third sector.

Mather says these enterprises can create employment opportunities while connecting with vulnerable people in society.

'We want to support individuals with the ambition to develop a social enterprise. This fund will help them turn their drive into projects that help people get back to work and keep our economy moving,' he adds.

The fund will run for two years, with £500,000 being invested each year and companies being awarded between £500 and £20,000 each time.

A similar scheme is also run in the country, the Futurebuilders Scotland Learning Fund, which awards money to help businesses train their staff.

Money in the programme is awarded to social economy organisations to improve the skills of those who work for them.

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