Deputy enterprise minister Allan Wilson said that the money would help create 800 jobs and safeguard more than 130 across the region.
It is hoped that the completed development will attract£50m of private investment and create almost 600 new jobs.
'Through visiting communities and projects that have benefited from European funding I have learnt what a huge difference this type of investment can make.
'Take Scottish Enterprise Forth Valley and their local economic partner's exciting plans to revitalise the former Alcan site. This will see the 38-acre site transformed to provide valuable industrial accommodation. This is a fantastic project with the potential to attract much-needed new investment and jobs to the area.
'This is a fine example of how projects backed by European funding can spark regeneration and provide communities with brighter prospects and a more sustainable future.
'Another worthwhile project benefiting in this latest round of funding is the University of Abertay in Dundee. This aims to create new links with small businesses in the computer games and digital industries, helping a faster flow of innovative products into the marketplace.
'This project has been supported with£208,000 funding and is expected to lead to the creation of 25 new jobs.
'All of today's projects have the potential to attract much-needed investment and jobs to communities, helping us achieve our top priority of continuing to grow Scotland's economy for the benefit of all.'
Full list of projects:
Heriot-Watt University - Technology Talent Initiative£134,882
Loan Action Scotland East£747,000
University of Dundee - SME Innovation Portal£126,276
University of Abertay - Whitespace for SMEs£208,145
Food Innovation Centre£144,245
Nestech Partnership - Pre-Investment Seed Fund£278,520
Edinburgh Technology Fund - Concept Definition Grant Scheme£56,600
SE Forth Valley - Site Servicing and Infrastructure - former Alcan site£ 1 million
Fife Council - St Ninian's Capacity Building£36,000
Abbeyview Business Incubator Unit£250,000
RSPB - NE Aberdeenshire Environment Engagement- Capital and Revenue£472,200
West Lothian Council - Fauldhouse Community Centre£326,920
Fauldhouse Mountain Bike Centre£71,000
CVS Clackmannanshire - Investing in Sustainable Development in Clackmannanshire£80,459
Midlothian Advice & Resource Centre - Bike Repair£33,438
The 2000-2006 East of Scotland Programme will invest£180 million of European Funds in the region by December 2006. The funds are targeted on supporting a range of economic development projects being undertaken by public sector and voluntary organisations in the East of Scotland area. The 17 new grant awards being announced today bring the total number of projects approved to date in the Programme to 676.
European Funds consist of two main kinds of investment. The European Regional Development Fund (ERDF) provides assistance for people to start or grow businesses; to develop sites and premises for businesses; to upgrade tourism facilities; and to support community economic development. The European Social Fund (ESF) supports training for people working in the region or looking for jobs. It is intended in particular to help people who are long term unemployed; young job seekers; and those excluded from the labour market.