Scottish Enterprise, its International Advisory Board and the Globalscot Network have launched the Saltire Foundation, to raise the aspirations of Scotland's future business leaders. By raising awareness of what can be achieved and by opening these individuals' eyes to new possibilities for Scotland, the Saltire Foundation seeks to push the boundaries of success for Scotland and raise the aspirations of its people.

It will do this by offering them a chance to work with some of the most successful companies and one of the best international entrepreneurship colleges in the world.

The two new programs are aimed at university undergraduates and individual business people and grew out of discussions about and the need to grow the confident entrepreneurial capabilities of our future leaders.

Irene Johnstone, Program Director at Scottish Enterprise said; "Scotland's ability to innovate is as strong as ever, we know that we need to do more to compete in the global marketplace. This is a long-term challenge; we need to build a pipeline of confident and capable individuals in order to make a real difference. The Saltire Foundation is about investing in Scotland's potential. Its aim is to raise the aspirations of Scotland's individuals by making them aware of what can be achieved."

The two new programs are:

• The Fellowship Program is an academic and business-led 12 month program that will help to fast track the careers of Scotland's most talented young business leaders and create a powerful alumni network which will have a major impact on the Scottish economy over the longer term. The program will be designed and delivered in partnership with Babson Executive Education in the US which was ranked as the world's best provider of entrepreneurial education 2006/2007 by the Financial Times.
• The Undergraduate Internship Program will promote a culture of enterprise by offering undergraduate students from all Scottish universities the chance to spend eight weeks working in some of the world's top companies based throughout the world.    

Scottish Enterprise is providing three year transitional funding to The Saltire Foundation of up to £2.85m, which will allow the Foundation to establish a charitable status. It is the intention for the Saltire Foundation's program to become self-sufficient within a three year period, having leveraged in private sector funds.

Scotland's international networks are already showing an incredible commitment program, and the Foundation will continue to build relationships with those who are capable of providing unique opportunities to help inspire and support those with the potential to make a difference. For example, organizations already offering places to undergraduate students include some of the world's most successful companies in their fields such as Liberty Mutual, Genzyme, Rolls Royce, the Wood Group and Grand Hyatt Singapore.

Hotel Manager of Grand Hyatt Singapore, Mr John Beveridge said; "Grand Hyatt Singapore is delighted to be supporting this program. We recognize the benefits that future international business leaders will get by gaining work experience in some of the world's trendsetting companies. We look forward to working with some of Scotland's leading ambitious and talented individuals and to be able to provide them with valuable experience and opportunities in the hospitality industry."

Helen Sayles of Liberty Mutual, and member of the Scottish Enterprise International Advisory Board said; "The Saltire Foundation will provide Scotland's best people with invaluable opportunities to learn, develop and flourish. This long-term investment in Scotland's potential will shape Scotland's future growth and success and will increase its ambitions.

"This is perhaps one of the most visible and powerful examples of the how the Globalscot network is channeling its combined expertise and influence to bring tangible benefits to Scotland and will highlight to the world what Scotland's talented individuals can offer."

Notes to editors

• Scottish Enterprise is the main economic development agency for Scotland covering 93 per cent of the population from Grampian to the Borders. The Scottish Enterprise Network consists of Scottish Enterprise and 12 Local Enterprise Companies. Working in partnership with the private and public sectors the Network aims to build more and better businesses, to develop the skills and knowledge of Scotland's people, and to encourage innovation to make Scotland's businesses internationally competitive.
• The International Advisory Board comprises senior business figures who are Scots or people with a strong affinity to Scotland. Members are invited to join in recognition of their experience, positions of international prominence and influence in their respective industries and their willingness to contribute to Scotland's wealth creation agenda. The IAB meets regularly to provide Scottish Enterprise, Scottish Ministers and Scottish businesses with world-class advice on emerging economic and business challenges.
• Globalscot is a Scottish Enterprise led program. It is an international network of individuals who have an affiliation for Scotland and who want to contribute to and share in its economic success. Members principally work in business and in key sectors for the Scottish economy. The network is an investment in developing global relationships; accessing world class business knowledge and expertise; and growing a resource to advance Scotland's economic development.

Media contact
For further information please contact:

Stephen Sharp
Senior Media Relations Executive
Scottish Enterprise
Tel: 0141 228 7364
Mob: 07786 126 6294