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STV Growth Fund invests £5m to support Scotland's economy

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STV has launched an innovative initiative to drive economic growth, particularly in the Scottish SME sector. 

As part of its commitment to actively support the business community in Scotland, the country’s leading digital media company has created the STV Growth Fund which is making £5 million available through STV airtime marketing space and aims to connect businesses with consumers across Scotland earlier in their business journey.  This will enable more Scottish companies to capitalise on the unrivalled connection which STV has with consumers - every month STV reaches 87% of Scots. 

More than 50 companies have already benefitted, with over £1.5 million of funding now helping businesses across Scotland to fulfil their growth objectives.

The £5 million STV Growth Fund investment is available for companies to boost their marketing activities via match funding, revenue share arrangements, and free airtime.  STV is also helping businesses to get on TV by contributing to the cost of producing an on-screen advertisement - ensuring investments are used as effectively and creatively as possible.

The People’s Energy Company, established last year, provides affordable renewable energy and launched its match-funded advertising campaign earlier this month to reach new customers.  Sophie Amono, Marketing Manager, People’s Energy said: “For a Scottish company that launched last year we could have never imagined being on nationwide TV as we approached our first birthday this August, but thanks to the STV Growth Fund we were able to take our ‘power for the people, by the people’ message to our dream audience.

“Our first ever TV campaign saw our customer base in Scotland increase by 33% taking us to over 14,000 customers. As the Scottish energy, start-up and ethical business industries continue to grow from strength to strength, opportunities like this continue to make Scotland the best place in Europe to create marketing magic.”

Bruce Walker co-founded the Startup Summit, one of the UK’s leading events for entrepreneurship.  “With common goals to drive the Scottish economy, the Startup Summit is working closely with STV and has benefitted from free airtime via the Growth Fund. The greatest way to collectively grow our businesses is to work in partnership, driving opportunities for exciting businesses to get the exposure they need to really thrive.”

STV Commercial Director Peter Reilly said: “We want to reach out to the next generation of Scottish businesses and nurture their development by offering practical assistance that will make a real difference to them whilst having a real, sustainable positive impact on our country’s economy. 

“STV attracts mass audiences all over Scotland - on air, online and on demand - so helping companies connect with their customers, especially at an earlier stage than they might otherwise have been able to, can expedite their growth considerably. 

“Many companies’ marketing budgets are under increased pressure these days so they need additional support to get their message across to consumers.  Our Growth Fund not only recognises that but is helping businesses capitalise on the fact that for every £1 spent on advertising there’s a £6 uplift in GDP, with small businesses benefitting from an impact up to eight times greater*.” 

Further information is available for companies at www.stvgrowthfund.tv  and STV’s Commercial team can provide further details and advice on businesses’ eligibility for Growth Fund support.

*Source: Advertising Association, Advertising Pays 2 – Deloitte
 
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For further information, please contact the STV press office:
 
Katie Martin: 0141 300 3109, katie.martin@stv.tv
Ellen Drummond: 0141 300 3341/07803 970143, ellen.drummond@stv.tv