News

The Cabinet Secretary for Finance, Economy and Fair Work, Derek Mackay MSP, has announced the appointment of Dr Poonam Malik, Dr Sue Paterson and Karthik Subramanya as Members of the Board of Scottish Enterprise.

The Scottish Investment Bank, Scottish Enterprise’s investment arm, has announced a record year in 2017/18, supporting over 640 companies, 500 of which was through its Financial Readiness Service and 147 through its investment activities, investing £43.5m and leveraging over £206m of external investment.

Kerry Sharp, director of the Scottish Investment Bank, takes a look back at 2017/18.

Back in 2012, TVSquared was an ambitious Scottish start-up with a vision to change the way advertisers measure and optimise TV. Today, with funding from a wide range of sources including the Scottish Investment Bank (SIB), the young company has grown to 90 employees. It has headquarters in Edinburgh and offices around the globe in London, New York, Munich, Tokyo and New South Wales.

A chance discovery in the lab is set to become a new treatment for tendon disease because of early input from Scottish Enterprise (SE) and the Scottish Investment Bank (SIB). 

Pre-investment support, advice and funding from Scottish Enterprise helped Julie Grieve of Criton attract £5m of private equity funding in 2017. Now the young Edinburgh technology company is taking the next steps to develop its hospitality app builder and reach out to international markets.

A three-turbine windfarm development on the Kintyre Peninsula will generate £15.6 million of community and charitable benefit over the next 20 years. Fyne Energy’s innovative project attracted funding from Triodos Bank and The Scottish Investment Bank (SIB).

NuCana is a clinical-stage biopharmaceutical company focused on significantly improving survival outcomes for patients with cancer.  Scottish Investment Bank’s early funding of £2 million helped leverage major investment for the Edinburgh company.

Right from the start the Isle of Harris Distillery has been known as the social distillery. Launched in 2015, the business has the best interests of the local community at heart, bringing new jobs to the island and benefiting the local economy. Investment from Scottish Investment Bank (SIB) along with other public and private funding helped to establish the company, whose success has exceeded expectations in the first three years.

A new action plan will encourage the growth of innovative Scottish cyber security research to deliver world-leading cyber security goods and services.

SDI reports rise in inward investor figures for last year

2017 was a strong year for inward investment projects and job creation in Scotland, with 126 foreign direct investment (FDI) projects generating 8516 jobs for Scotland, up almost 9% on the previous year, said Scottish Development International (SDI) today.

Paul Lewis, Managing Director, Scottish Development International 

Our annual inward investment results, published today, provide a useful insight on how Scotland is performing. The results highlight another strong year for Scotland in attracting FDI projects, with 40 new investors choosing to locate in Scotland and an almost 9% increase in job creation from inward investment during 2017/18.