Backing for new business project

Entrepreneurs from Tayside and Fife have backed a project to help the creators of new Scottish businesses with growth potential through world-class training.

Guidance from the Massachusetts Institute of Technology (MIT) and Harvard Business School will be given to successful applicants whose new businesses are judged to have the best prospects.

Delivered by Highlands and Islands Enterprise, Scottish Enterprise and the Scottish Funding Council, and sitting under the Scotland Can Do Government banner, the programme will involve participants following an online MIT training course, Entrepreneurship 101 – Who is Your Customer?

It has been developed by Bill Aulet of MIT, author of 24 Steps to Disciplined Entrepreneurship, who is a visiting professor in entrepreneurship at Strathclyde University.

Entrepreneurs from Perth, Angus and Fife said they benefited from a pilot initiative last year.

Kristine Moody, founder of outdoor gear supplier Team Magnus of Perth, said: “By combining the lessons I learned at the summer school with my knowledge and experience of the industry, I have been able to take a step back and plan a clear path for my company’s future.

“The push I received from Aulet’s MIT research has been invaluable.”

Carolyn Hogg from Angus, managing director of recycling products firm Cascade Water Products, said: “Scotland Can Do has given me the confidence to know that I am working along the right lines.

“The 24-step programme has allowed me to put in place some practical measures, as well as develop a resilience and focus more on finding the right type of investors to help the company grow.”

Steve McCue, founder of Glenrothes Dyslexia Pathways, said: “It has given me the confidence to diversify what we are doing into new products and markets.”

The objective of the programme is to build a community of entrepreneurs running scalable businesses across Scotland, with ongoing support provided to those with ambition and potential for growth.

Kristine Moody said the push she received during the pilot project was invaluable.