Grant Funding to Help you Grow Your Business?

February 2024

Scottish Enterprise plays a significant role in helping Scottish businesses grow and innovate and supports manufacturing businesses in funding automated machinery through various funding options, including grants, loans, and equity investments. These funding opportunities are designed to help businesses invest in new technologies and innovations, such as automation, that can enhance their productivity, efficiency, and competitiveness. The primary aim is to stimulate investment in businesses and help companies secure the right type of funding they need to expand, invest, innovate, and export.

1. Grants for Research & Development (R&D): Manufacturing businesses can apply for R&D grants to develop new products, processes, or services. This can include the development or integration of automated machinery into their manufacturing processes. These grants are aimed at supporting high-risk, ambitious projects and can cover feasibility studies related to automation.
2. Regional Selective Assistance (RSA) Funding: RSA is a discretionary grant aimed at encouraging capital investment and job creation in Assisted Areas of Scotland. This can include investment in automated machinery that leads to the creation of new jobs or the preservation of existing ones.
3. Co-Investment Funds: Scottish Enterprise offers co-investment funding for businesses with high growth potential. This involves co-investing funds into the business alongside private investors. This type of funding can be used by manufacturing businesses looking to invest in automation technologies.
4. Loan Funding: The Scottish Loan Scheme, part of the Scottish Growth Scheme, provides loan funding for growth-focused Scottish companies. These loans, ranging from £250,000 to £2 million, can be used for various purposes, including capital expenditure on new technologies like automated machinery.
5. Expert Advice and Support: Beyond financial assistance, Scottish Enterprise provides expert advice and support to help manufacturing businesses understand the benefits of automation, how to implement it, and how to access the necessary funding. This includes guidance through the complexities of different funding options and preparing businesses to successfully access these funds.

Manufacturing businesses looking to fund automated machinery should explore these options and contact Scottish Enterprise for tailored advice and support. The exact type of funding and the amount available will depend on the specific project, the business’s needs, and eligibility criteria. The team at SP Automation and Robotics can help you with any applications and provide any information to help assist.

Over the years, the team has worked with several customers who have been fortunate enough to have support from Scottish Enterprise to allow them to grow and innovate. The level of support varies between projects, but in a number of cases,  funding has been the deciding factor to allow companies to invest in such areas as automation and upskilling.

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