Scottish Enterprise reports record support for firms
A £78 million investment was secured for LumiraDX to create 500 research 500 jobs
Scottish Enterprise said it supported a record number of firms in 2020/21, with investment of £568 million.
This resulted in more than £1 billion of additional planned private sector investment that secured almost 7,000 jobs.
The economic development agency backed significant inward investments, adopting new ways of working including using digital, research & development, early-stage company equity investments and entrepreneurship.
Among the projects supported were the global life sciences company LumiraDx and the Michelin Scotland Innovation Parc.
To help Scotland achieve its net zero aspirations, a high proportion of investment went to projects that will advance the country’s low carbon economic transformation.
Scottish Enterprise interim chief executive, Linda Hanna, who hands over to new CEO Adrian Gillespie tomorrow, commented: “Scottish Enterprise is determined to play a key role in supporting Scotland’s economic recovery and deliver a future green economy that is fair for all. Our performance over the past year shows we are on the path to achieving that.
“We are incredibly proud of these significant achievements in such an extraordinary year.
“Despite the challenges presented by the pandemic and Brexit, Scotland was able to maintain solid levels of investment which has helped sustain and create employment for many thousands of people.”
In response to the impact of the pandemic on global travel, the agency completely pivoted its support for exporters in Scotland, maximising digital channels to their full effect and delivering more than 100 trade events to almost 5,000 individuals.
Digitising export support was critical to help identify and support future trade international opportunities.
As a result, companies were able to forecast international export sales in excess of £1 billion.
At the outset of the pandemic, Scottish Enterprise designed, developed and rolled out emergency COVID funds resulting in £220 million of grants providing a critical life-line to 4,000 business to help safeguard more than 70,000 jobs.
New chief executive Mr Gillespie joins Scottish Enterprise from Strathclyde University where he was chief commercial officer.