February 2007
Scottish Enterprise Board SE(07)34
Approvals within delegated authority
The following projects were approved within delegated authority during the period 12 January to 8 February 2007. The details are provided below.
Investment follow-on fund
The Chief Executive approved the extension of the follow-on fund for investments for a period of 3 years (2007/08 – 2009/10) and to a maximum value of £3 million. In October 2006, the Executive Board approved the establishment of the fund to protect SE positions in current investments. The fund would allow SE Investments to protect the value of the SE Residual and Direct Porfolio by making follow-on investments in companies within the portfolio where appropriate.
Scottish Institute for Enterprise Regional Support
Approval was granted by the MD, Industries for expenditure of up to £540,000 over a three year period to support Scottish Institute for Enterprise in the implementation of a project to provide business advisory support to students in higher education. The project will be delivered by four business advisors, who will operate on a regional basis, assisting students who have promising business ideas and entrepreneurial potential.
Brian Jamieson
SE Secretary
February 2007