The Scottish Investment Fund announces first two investments

The Scottish Investment Fund announces first two investments. Momentum Scotland a Glasgow-based organisation and Edinburgh-based Out of the Blue Arts and Education are the first two organisations to receive investment support from the Scottish investment Fund.

Announcing the awards at the Third Sector Forum on 26th February 09 Enterprise Minister, Jim Mather said

"From our first day in office, the Scottish Government has highly valued the Third Sector's transformational potential, which  is why we decided to increase funding for the sector by 37 per cent. I am delighted to see the Scottish Investment Fund, one of the new funds we created, support established Third Sector organisations such as Momentum Scotland and Out of the Blue. These very impressive enterprises reach individuals where the public and private sectors do not operate, creating valuable employment opportunities. It is especially important in the current climate that we harness the Third Sector's ability to help increase sustainable economic growth, build on our economic recovery programme and help Scotland emerge faster and stronger from the downturn." 

Scott Anderson, Chief Executive, Social Investment Scotland, said:

"Today marks a major milestone for the Scottish Investment Fund as we announce the first investments which are designed to help recipients develop their potential and make a positive difference to the communities they serve. Both Momentum Scotland and Out of the Blue are fantastic examples of social enterprises that have the drive to succeed and bring benefit to their respective communities, while also contributing significantly to the wider Scottish economy" 

For full details of both investments 'click here'