What reforms will Scottish Enterprise undertake, asks Mr Lockhart.

Ms Hanna says SE will be working with businesses to drive demand to the bank.

She adds this might take more resource but she does not know that yet.

Prof Cadenhead says there is significant demand and ambition from female entrepreneurs to grow.

She suggests loans with childcare breaks should be available.

She also states the putting up a home for security against a loan is "a step too far" for many women.

Linda Hanna agrees that the Bank will help us think about how to "switch on" parts of the economy that are not currently being served.

Legislation to set up a Scottish national investment bank was published at Holyrood in February.

The Scottish government wants to have the bank up and running by 2020, with £2bn committed for investment in Scottish businesses over 10 years.

The bill now before MSPs will grant the necessary powers to set up the bank as a public limited company.

Finance Secretary Derek Mackay said the bank would be "a cornerstone in Scotland's economic architecture".

The bank was first announced by First Minister Nicola Sturgeon in her 2017 programme for government speech.

Mr Alexander says there is an overwhelming demand for the Scottish National Investment Bank (SNIB) but it is long term equity investment that is required.

This would deliver significant returns for the bank, he adds.

The correct investment is not there at the moment because everyone only wants to invest for three to five years, says the Mydex CIC CEO.

There is a lack of clarity in terms of what the Bank is proposing to do, says Professor Lynne Cadenhead from Women's Enterprise Scotland (WES).

In particular, she expresses concern about how the Bank will support female entrepreneurs but adds conversations are being had on this.

Linda Hanna of Scottish Enterprise says the Bank will add to what needs to be done for the economy.

Tools to get more finance into the system are absolutely needed she states.

Image source, bbc

Committee convener Gordon Lindhurst says some of the submissions say the broad mandate set out by the bill fails to enshrine the Scottish government's vision for the bank.

The socio-economic goals are also not clearly set out, he adds.

Do the witnesses agree, he asks.

"We think there is a missed opportunity," replies David Alexander from Mydex CIC.

"Sometimes plans and visions are not implemented."

Mr Alexander adds that the main object of the bank should be to provide capital to achieve sustainable social and economic benefits and at the moment he thinks the bill is not doing that.

The committee is first hearing from:

• Professor Lynne Cadenhead of Women's Enterprise Scotland, external
• Linda Hanna from Scottish Enterprise, external
• David Alexander from Mydex CIC, external

Image source, Getty Images

The Economy, Energy and Fair Work Committee is considering the Scottish National Investment Bank Bill, external this morning.

The legislation will require ministers to establish the bank, and also makes provision for the purpose, objects, ownership and governance of it.

Scottish ministers will be given the power to set the strategic direction of the Bank by the setting of missions.

According to the Financial Memorandum total costs to the Scottish Administration will be £2,050 million.

Read the committee papers here., external

Good morning and welcome to Holyrood Live on Tuesday 21 May 2019.

Today begins with an evidence session on the Scottish National Investment Bank Bill with the economy committee.

After topical questions, there will be an hour of portfolio questions. Brexit, culture and education ministers will be in the spotlight.

Image source, Getty Images

Then the Scottish government leads a debate titled "It’s Time to End the Stigma of the Menopause".

Finally, SNP MSP Colin Beattie has a member's debate marking International Museum Day.