The funding will be given to Investing Women, an “angel” social enterprise which supports women-led firms.
The move was confirmed during a meeting with American angel investors in the First Minister’s first day of engagements in the US.
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Aberdeenshire East MSP Gillian Martin, Convener of the Women In Enterprise Cross Party Group, said: “I am passionate about encouraging more women in the business sector and this is a brilliant way to encourage female leadership at the top.“Investment like this helps women to develop their business ideas and also engage with other female investors.
“As someone who has owned their own business I know how important it is to get all the support you can.”
Lynne Cadenhead, Women’s Enterprise Scotland chair, said: “We know from recent research that women are positive about growth and aspire to grow their businesses.“In fact, some 83 per cent of women-led businesses predict growth in the next three years, with 45% citing access to finance as a key driver in their growth plans.*“Access to funding is crucial for expansion and we therefore welcome this news of an important boost to angel investment.“We look forward to seeing more women-led businesses realise their full economic potential and contribute to an inclusive and vibrant business landscape in Scotland.”
Please find attached a photograph of the Women In Enterprise Cross Part Group which is led by Gillian Martin MSP.