Scottish Government
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Committed to entrepreneurs

Over £1 million invested in supporting women and young people.

Innovative schemes to encourage both women and young people to develop new businesses are benefitting from over £1 million from the Scottish Government.

The Young Innovators Challenge, Young EDGE and the Women’s Enterprise Framework are among the programmes to have received funding from the Scottish Government. In all, schemes focussed on female and youth entrepreneurship will receive a total of at least £1,035,000 in the period to March 2016.

Cabinet Secretary for Training, Youth and Women’s Employment Angela Constance led a debate in the Scottish Parliament and will outline the Scottish Government’s commitment to making Scotland a world-leading entrepreneurial nation and ensuring there are no barriers to taking up entrepreneurial opportunities.

She said: “Entrepreneurs are the innovators of the business world, the individuals that can turn a simple idea into a viable project, in turn leading to economic growth. To encourage a spirit of entrepreneurship in Scotland, we must ensure there is support in place to encourage these creative minds to come forward.

“The Scottish Government is determined to support such a climate, with a range of schemes receiving over £1 million funding for this year and next.

“Recent job figures have shown a real boost for women in employment, and it is encouraging to see greater numbers of women coming through our business incubator schemes but we must not lose sight of the fact that a disproportionately low number of small to medium sized-enterprises are female-led, and that less than a third of self-employed people are women.

“Research by the Hunter Centre has shown that if women's participation rates matched men's, it could also boost the economy by as much as five per cent, which equates to £7.6 billion.

“It is also crucial that now more than ever, our young people are able to realise their economic potential. We are determined to see more young people starting their own businesses in Scotland and our funding for Young EDGE, the Young Innovator’s Challenge and the dynamic ventures they foster underlines our commitment to helping young people successfully step into the world of business.”

Notes To Editors

The Scottish Government has funded the following:

  • Power of Youth - £40,000 over two years (this and next)
  • Young EDGE - £300,000 over two years
  • Investing Women - £50,000 (last year and this)
  • Bridge 2 Business – up to £300,000 this year
  • We are The Future! - £70,000 over two years (this and next)
  • Young Innovator’s Challenge - £205,000
  • Women in Enterprise Framework - £70,000 over two years
Channel website: https://www.icaew.com

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