Two companies, Renovite Technologies and Cyclotricity, are creating 40 new jobs in Dunfermline and Glenrothes after receiving Regional Selective Assistance (RSA) grants from Scottish Enterprise. Fife Council is supporting both companies to settle including assistance with recruitment and upskilling.

Renovite Technologies, an electronic payment company from California, has received a £250,000 RSA grant to help grow its Dunfermline location – 28 high tech roles will be created to help meet demand for better payments software from banks and money management businesses worldwide.

Relocating from the south east of England, Cyclotricity will manufacture electric bicycles thanks to a £120,000 RSA grant, creating 12 manufacturing jobs at its new Glenrothes headquarters.

Minister for Trade, Investment and Innovation, Ivan McKee said: “We want Scotland to be the best place to live, work and invest so we are committed to growing the economy in a sustainable and inclusive way. These awards will bring new high tech jobs to Fife, helping to grow the local economy, thanks to £370,000 of investment support.

“The Scottish Government is supporting businesses to maximise the opportunities that come from established strengths in innovation and technology. Scotland has huge economic potential so we are determined to work with businesses to unlock more high skilled jobs like these.”

Paul Lewis, managing director, international operations at Scottish Enterprise, added: “Two new inward investors, bringing significant numbers of new jobs and economic impact is fantastic news for Fife, and is a real endorsement of this region’s attractiveness to foreign investors, in terms of availability of skills, connected business infrastructure and quality of life.

“We will continue to work in partnership with our colleagues at Fife Council to support these companies as they establish roots in Fife and look forward to seeing them grow and expand in Scotland.”

Altany Craik, the council’s economy convener, said: “Fife Council through Invest in Fife is now actively working with both of these companies to help them further establish themselves here as quickly as possible and support their growth plans.

“Fife is a great place for businesses to establish themselves and grow, and this funding is delivering local employment opportunities as well as wider economic and community benefits.”