A new £885,000 entrepreneurship fund aims to stimulate the appetite of young people to start their own businesses.

The Scottish Government grant scheme will fund public and private sector organisations to offer courses and training for aspiring entrepreneurs under the age of 18.

The Entrepreneurial Education Pathways Fund will offer grants of up to £250,000 to deliver innovative courses to young people from diverse backgrounds to choose business ownership.

The fund is part of Scottish Government work to establish a ‘world-class entrepreneurial nation’ and deliver on the recommendations of the independent Pathways review that highlighted the importance of education to widening participation in entrepreneurship to all.

Kate Forbes, deputy first minister and economy secretary, said:

“Entrepreneurship is key to a productive and growing economy. Tapping into a more diverse talent pool to drive the creation and growth of new businesses is an ethical and economic imperative.

“Scotland has the potential to be one of Europe’s fastest-growing start-up economies: an economy that is strong, successful and dynamic. The Scottish Government will continue to play its part to make this a reality, which starts with establishing a culture that encourages, promotes and celebrates entrepreneurial learning from an early age.

“We want every young person to have the opportunity to experience entrepreneurial learning and this funding will help offer the next generation of business founders new and exciting ways to take the first crucial steps on their entrepreneurial journey.”

Mark Logan, chief entrepreneurial adviser to the Scottish Government, said:

“This is an essential investment in the future of our country. It is our children and young people who will create the jobs and opportunities in tomorrow’s economy.

“The more we can capture their interest in entrepreneurship now, the stronger that economy will be.”