Scottish Enterprise has forecast £24.4m of direct investment will be generated from entrepreneurs from its unlocking ambition programme - supporting 552 jobs.
The enterprise agency forecasted the impact of its £1.3m support package for the third cohort of its flagship business growth and leadership programme unlocking ambition.
The latest group of entrepreneurs, who joined the nationwide programme in September 2021 and will graduate at the end of March, has calculated that over the next three years it will:
Leverage £12.2m of research and development investment and £12.2m of capital investment
Experience revenue growth of £114m – including £47.3m from exports
Create 365 new real living wage jobs AND safeguard 187 existing posts
Create £102m worth of new products and services
Support 60 days of real living wage internships for Saltire Scholars working to help the cohort expand their export sales.
Its latest crop of 36 entrepreneurs represent 30 early-stage companies with plans to scale over the next few years.
It includes Dundee-based SoarisKit, creator of a flat-packed solar energy generator, Edinburgh based Waire Health, which has developed wearable patient vital signs monitors including a new Covid-19 specific product.
Scottish Enterprise is estimating that since it launched its scheme in 2018 it has generated £42m of new direct investment.
Adrian Gillespie, chief executive at Scottish Enterprise, said: “There are so many incredible Unlocking Ambition success stories, including Talking Medicines who recently completed another £1.5m funding round to which SE has contributed; and The Future Forest Company which recently signed a $1.5m deal with a US firm.
“The sense of community across the three cohorts to date is something we’re especially proud of. Participants were chosen for their ambition, quality ideas, ability to scale and potential to make a huge contribution to the Scottish economy – and many of their companies continue to receive our support at every stage in their growth journey.”
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