STV’s highly successful Growth Fund, established to make it easier for Scottish businesses to advertise on television, is to double in size to £10m as part of STV’s strategy to help drive the Scottish economy.
The STV Growth Fund, launched in May last year, has already helped over 100 businesses from across Scotland to fulfil their growth potential, allocating £3m of TV airtime so far.
The aim of the fund is to use television to connect Scottish businesses with their consumers earlier in their business journey, allowing them to capitalise on the unrivalled connection STV has with consumers as it reaches 87% of all Scots every month.
STV Growth Fund investment is available for companies seeking to boost their marketing activities and is focused around three types of commercial deal:
- Free airtime is available for entrepreneurs and start-ups aiming to become the next generation of successful Scottish businesses;
- SMEs can apply for matched funding to maximise their campaigns and reach; and
- For existing businesses hoping to move to the next stage of growth, free airtime is also available in return for a share of future revenues or an equity share.
STV commercial director Peter Reilly said: “Since the launch of the STV Growth Fund we have partnered with well over 100 businesses from right across Scotland, delivering fantastic results for their brands and for STV.
“STV attracts mass audiences all over Scotland - on air, online and on demand - so helping companies connect with their customers can accelerate their growth considerably.
“By increasing our investment in the STV Growth Fund to £10m we will continue to drive growth for Scottish businesses and STV both now and for the long term.”
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.