This item was published during the term of a previous administration that ended in April 2007
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Euro funding for West of Scotland
01/11/2004
European funding worth nearly £8 million has been secured for the west of Scotland in the latest round of Euro funding.
The investment will create 1,995 jobs and help 2,283 businesses, Deputy Enterprise Minister Allan Wilson said during a visit to the University of Strathclyde today.
Mr Wilson said:
"This money is going to projects that will create jobs and help us achieve our key priority of growing the economy.
"The funding is yet another example of the crucial role European investment can play in ensuring Scotland is competitive in today's challenging global economy.
"Our universities have a justifiably strong worldwide reputation. We need to make sure the excellent knowledge and research in our higher education sector is effectively transferred into the world of business. This funding will help do just that."
Mr Wilson saw two projects that will receive a share of Euro funds:
- The Technology Talent Initiative, which will receive £220,000. This new project will be run by the three Glasgow universities and Scottish Enterprise Glasgow. It will support technology led spin-out companies by providing management expertise. By the end of the input of European funding, it is anticipated that 16 commercialisation projects will have been assisted and nine new businesses created resulting in 45 new jobs
- The Competitive Scotland project, which is to receive £314,040 of funding. This will be used to expand the competitiveScotland.com network which provides Small and Medium sized businesses (SMEs) with access to information on best practice and business improvements
Mr Wilson also launched Scottish Innovative Actions Programme. This is a £2 million European Union backed programme which will provide funding support to new and innovative small and medium sized businesses across Scotland.
He said:
"What I have seen today merely confirms that Scotland has more than enough talent to help our economy continue to grow.
"It is vital we provide the conditions in which this talent can be nurtured and allowed to flourish. This is where European funding can help. And it is also the area in which the Scottish Innovative Action Programme has a crucial role to play.
"We need to support innovation and well-judged risk taking wherever we can. By supporting SMEs to take forward new and exciting projects the programme will help Scotland compete globally."
The Western Scotland Objective 2 Programme 2000-2006 was approved by the European Commission on March 26, 2001.
It is worth over £290 million over the period, comprising £60 million European Social Fund (ESF) and £230 million European Regional Development Fund (ERDF). European support will be available for the whole of the Western Scotland Programme area.
The programme is designed to provide business support for small and medium sized enterprises, to develop strategic sites and sectors, and to promote and support community economic development, targeted on Social Inclusion Partnerships and Community Planning partnerships.