Awards from the Scottish Government’s Digital Development Loan fund to small and medium-sized enterprises (SMEs) have reached a total of £1 million as the first anniversary of its launch approaches next month.
To date, more than 20 SMEs have benefited from the scheme which offers companies 0% interest rate loans of up to £50,000 to invest in improving their digital capabilities, capacity and skills
The £2m fund, managed by Lanarkshire Enterprise Services (LESL) and supported by DSL Business Finance (DSL), is the first phase of a £36m initiative by the Scottish Government aimed at helping firms improve their processes and productivity.
The latest company to receive funding was Sand Monitoring Services (SMS), an international business founded in Aberdeen that provides sensory data analysis and visualisation for the global oil and gas industry.
The firm’s operations director, Andrew Kinsler, said: “It will allow SMS to develop our data visualisation product, improve the tools and activities essential to our research and development projects and create vast opportunities for us as a Scottish SME in Europe and the rest of the world.”
Digital Economy Minister Kate Forbes added: “We are committed to investing in Scotland’s digital productivity and ensuring we are ready to embrace the opportunities of a digitally-driven future.”
