CROWN ESTATES FUNDING SCOTTISH GREEN BUSINESS GROWTH

Crown Estate Scotland has launched a capital investment fund to help promote the sustainable development of Scotland’s natural resources.

The £3m Innovation with Natural Resources (INR) Fund will support innovation in a range of sectors, such as agriculture, green energy, aquaculture and waste reduction. It is one of three Capital Investment Challenge Funds launched by Crown Estate Scotland over the past 12 months.

Two other funds – one to help grow boat-based tourism and the other to support local partnerships via business diversification, community regeneration and sustainable development – were launched in 2021 and the first successful applicants will be notified in the coming months.

The INR Fund is designed to support projects which result in better use of natural resources by existing or new businesses on the Scottish Crown Estate.

Successful applicants could receive investment to fund the construction of new, energy efficient buildings, or the improvement of existing infrastructure. Other qualifying projects might include efforts to improve biodiversity or reduce the carbon footprint of a business.

The size of the capital investments, which are not grants, will be between £150,000 and £500,000 and applications are invited from projects at any stage of development.

The fund will be open to applications until 3 June.

Andy Wells, investment and sales programme director for Crown Estate Scotland, said: “As Scotland builds a sustainable net zero economy, we’re determined to play our part in offering strong economic support and investment to help our tenants’ businesses across Scotland.

The need for improved levels of sustainability and green innovation is clear and Crown Estate Scotland, which already supports hundreds of businesses in rural, urban, and coastal communities, is well placed to share its expertise in supporting that change.”

Minister for Environment and Land Reform Màiri McAllan (pictured above) said: “This is a fantastic opportunity to support projects across Scotland that are using innovative ways to cut their carbon footprint or protect the natural environment.

Open to a range of sectors it is encouraging communities and businesses to test new green ideas which work for them and their local areas, while backing the Scottish Government’s world-leading climate change agenda and our response to the biodiversity crises.”