£100k To Support Young Entrepreneurs
27th October 2020
A business support programme aimed at developing the next generation of entrepreneurs is to be extended across the Highlands and Islands.
IMPACT30 is currently operated by Highlands and Islands Enterprise (HIE) in the Highland Council area, as part of the Inverness and Highland City-Region Deal.
Delivered on HIE's behalf by AAB Consulting, it offers bespoke support from industry specialists to people age 35 and under who are in key decision-making roles in young ambitious businesses.
The young business leaders benefit from 12 months of personalised coaching and mentoring, just-in-time training, and collaborative learning with other participants.
HIE has approved a further investment of £100,000 to make the programme accessible to businesses in the Northern and Western Isles, Moray, Argyll and Bute, and North Ayrshire.
The investment will be targeted at helping young people develop commercial and employment opportunities as part of the region's economic recovery.
IMPACT30 forms part of the Northern Innovation Hub, a project led by Highlands and Islands Enterprise (HIE) with £11m from the UK Government and £1.7m ERDF support as part of the Inverness and Highland City Region Deal.
So far, the programme has run four times in Highland. Forty-nine businesses have taken part, including 19 currently in the programme. The average age of participants is 30 and the average age of their businesses is less than a year.
Extending IMPACT30 across the region is expected to benefit at least another ten businesses over the next year in addition to those in the Highland Council area.
Claire Munro, HIE’s senior project manager for the Northern Innovation Hub, said:"Entrepreneurship is a key driver for successful business development and economic growth. Supporting the next generation of entrepreneurs is essential to future job opportunities, inward investment and community resilience.
"IMPACT30 is about strengthening entrepreneurship to create a more robust and resilient economy, as well as improving business skills and supporting a confident workforce.
“By extending the programme, we’ll be able to build on its success so far and widen the impacts across the whole region. We look forward to welcoming the next cohort for onboarding in January."
Mark Bell, director of economic development at AAB Consulting, said:“IMPACT30 welcomed 19 new businesses in August. It was great to feel how energised they all are about fighting the uncertainty head on. Our immediate task is to help them focus their energy on the things that are most important today, and that they are building their resilience in a way that they can respond to disruptions tomorrow, of which there will be many. Each business benefits from having an individual coach, a network to share and learn from, and other subject matter experts on hand to help with discreet challenges."
The Inverness and Highland City-Region Deal is a joint £315 million initiative supported by both the UK and Scottish governments.
More information about IMPACT30 is available on the HIE website.
Community organisations in the region which are delivering, reshaping or reintroducing vital community services as a result of the COVID-19 pandemic, are being encouraged to check their eligibility for a Scottish Government fund. Highlands and Islands Enterprise (HIE) is administering the Communities Recovery Fund (CRF) in the region.
Planning consent has been granted for a new life sciences innovation centre on Inverness Campus. The 2500m² facility is a joint project between Highlands and Islands Enterprise (HIE) and the University of the Highlands and Islands.
An Isle of Lewis-based television production company has recently expanded its development team with support from Highlands and Islands Enterprise (HIE). Catriona Lexy Campbell has been recruited by award-winning firm, MacTV, as a development researcher to help increase the company's global appeal and to build on its success to date.
The plans were announced today (Tuesday 17 November) by ALVANCE Aluminium, operator of the Fort William plant. Responding to the news, Alastair Nicolson HIE's area manager for Skye Lochaber and Wester Ross, said:"Fort William's aluminium smelter has been a cornerstone of the Lochaber economy for generations.
Sixteen community group representatives from Shetland to Galloway will be expanding their horizons digitally this weekend as they look at the future of Scottish tourism. The group is taking part in Communities Leading in Tourism, a specialist programme offered by partners Highlands and Islands Enterprise (HIE) and South of Scotland Enterprise (SOSE), and delivered on the ground by the Social Enterprise Academy (SEA).
Cairngorm will benefit from more than £20 million to make it a year-round attraction, generating significant economic benefits for the local area and Scotland's tourism sector. Funded by the Scottish Government and Highlands and Islands Enterprise (HIE), more than £16 million of the investment will be used to support reinstatement of Scotland's only funicular railway and bring it back into service during winter 2021-22.
Renewable energy industry groups in Scotland and Germany are joining forces to boost the production of both offshore wind energy and green hydrogen. The north of Scotland's offshore wind cluster organisation, DeepWind, has today (Wednesday 23 September 2020) signed a three-year memorandum of understanding (MoU) with its German counterpart, WAB.
A project to create accommodation facilities at Kishorn dry dock in Wester Ross has secured investment of up to £94,675 from Highlands and Islands Enterprise (HIE). Having on-site accommodation will enhance the dock's capacity and help it attract more high-end contracts in offshore renewables and oil and gas decommissioning.
£2 million for locally-led green recovery. Island communities will benefit from a £2 million programme of locally-led green projects designed to help support their economic recovery from the coronavirus (COVID-19) pandemic.
A free programme to help businesses accelerate their growth has opened for new applications, with a virtual taster session arranged for 24 September 2020. Developed by Highlands and Islands Enterprise (HIE), the Pathfinder Accelerator programme provides fast-track training and mentoring and will be delivered completely online.