This month, the Scottish Loan Fund (SLF) has committed two million pounds of support funding to the Interactive Design Institute (IDI). The capital injection has been allocated to allow IDI to further invest in its delivery platform and systems, as well as increase the spend in digital marketing to attract more overseas students from key international markets.
The Scottish investment bank cornerstone investors in the Scottish Loan Fund spoke out about the importance of supporting ambitious companies like IDI with the potential for growth. Michelle Kinnard Investment Director at the Scottish Investment Bank said:
“Investment support can be key to supporting a company’s growth ambition and we are delighted to see the Loan Fund help another ambitious Scottish company in its desire to grow and access international markets. The SLF continues to work with companies like IDI to help them realise their potential, creating value and jobs for Scotland.”
IDI plans to capitalise on the global standing of the UK Education brand by increasing the number of courses it offers across a range of subject areas and is targeting additional partnerships with other Higher and Further Education Institutions. The funding will also support the expansion of IDI’s ‘white label’ service, which it currently delivers on behalf of such partners as publisher Penguin Random House.
Speaking on the plans for growth, Fiona Crosbie Director of Student Recruitment and Marketing at IDI said:
“We are excited about the future prospects for IDI having secured the financial and strategic support of SLF and Maven. With access to the SLF funding we are able to implement a number of key initiatives that will enhance our leading learning management system and commit to further investment that underpins our longer term goals.”
More information on the funding can be found here.