The Scottish Growth Scheme is a package of financial support of up to £500 million for small and medium enterprises (SMEs) in Scotland. Backed by the Scottish Government, it aims to help businesses grow.

This funding includes Techstart Ventures Equity Finance, which is managed by Techstart Ventures on behalf of the Scottish Government. It provides equity finance of up to £2 million, in rounds of up to £10 million, for eligible businesses.

The equity funding can be used for a variety of purposes, including:

• growth funding
• research and development
• working capital
• capital expenditure

Techstart Ventures invests principally in early stage startups and SMEs who are developing innovative new products with high growth and export potential.

To be eligible for equity financing of up to £2 million from Techstart Ventures Equity Finance, businesses must:

• be a small to medium-sized enterprise (SME), external link which will open in a new window
• have a funding proposal which demonstrates the potential for high growth
• have a viable business plan which explains your innovation, the scale of the potential market, your competitive advantage and how the requested funding will help grow your business
• be based in Scotland or ready to relocate to Scotland (and be located in Scotland before any equity financing is made available)

Techstart Ventures Equity Finance is not sector-specific and businesses in a variety of sectors have already been supported under the fund, though certain sectors may be restricted.

There is no cost to apply.

High growth startups and SMEs based in Scotland which are seeking equity funding to develop innovative new products with high growth and export potential. This is not a grant scheme.

This will depend on the nature of your funding proposition and the review process. Techstart Ventures will evaluate your formal application and make the investment decision.

Advice and support for SMEs seeking to access finance is available from Business Gateway. Financial readiness support is available from Scottish Enterprise, including in the Highlands and Islands area.

Please visit the Techstart Ventures website for further information.