Early Stage Growth Challenge Fund: FOI release (reference 4826)

30 July 2020

19 August 2020

Regarding the Early Stage Growth Challenge Fund:

1. Is it Scottish Enterprise who decides who is allocated money?

2. If not, who would decide this?

3. Is it only businesses with which Scottish Enterprise works which will receive the money and/or be eligible?

4. How much of the money has been earmarked so far and to whom?

5. What is the process for applying for funds and their allocation?

1. and 2. Applications are being assessed by Scottish Enterprise with support from private sector investment panels. See here for info: https://news.gov.scot/news/investing-in-scotlands-entrepreneurs-and-innovators

3. No, any early stage, high growth companies that met the eligibility criteria could apply. Details are provided at Appendix A.

4. None of the money has been earmarked. The fund opened to applications on 20th July 2020 and closed on 31st July 2020. Applicants have been advised that they can expect to hear from us week commencing 7th September 2020 (https://www.scottish-enterprise.com/support-for-businesses/funding-and-grants/accessing-finance-and-attracting-investment/early-stage-growth-challenge-fund).

5. Copies of the published process are provided to you now at Appendix A. Please note the Early Stage Growth Challenge Fund will not be delivered on a first-come, first-served basis. It is competitive funding where all eligible applications will be assessed and graded with the highest-graded applicants receiving funding.

FOI 4826 - Appendix A (PDF, 5.09 MB)