Firms to share £1.7m boost

BUSINESSES in the Capital are to get the chance to share £1.7 million of funding after Edinburgh was chosen as lead partner in a Europe-wide initiative.

The city council will head up the Interreg initiative, which links local authorities and education providers from the UK, France, Germany, Ireland and Belgium.

Edinburgh's 1.7m share of the fund will be used over the next three years to support business growth and university spin-out companies. The different authorities taking part in the scheme also intend to help each other benefit from skills in co-ordinated projects.

Councillor Tom Buchanan, the city's economic development leader, said: "I am delighted to see Edinburgh leading in a significant Europe-wide project.

"This project will deliver benefits on the ground to local companies and research institutions."