Scottish EDGE pays out record £1.5m in prizes
Sir Tom Hunter: ‘absolute need’
A record-breaking £1.5 million was invested in 42 businesses which last night became the latest recipients of funding from the Scottish EDGE pitching competition.
Hundreds of high calibre applications were received by Scottish EDGE, the UK’s biggest funding competition for high growth potential businesses.
One of the biggest handouts went to OrganLike which has developed hyper-realistic organ models for surgical training. The company received a total of £100,000 to help aid its revolutionising surgical training using synthetic tissue and augmented reality technologies.
Creag Dhu, which ‘accelerate ages’ single malt Scotch Whisky ‘Mashie Brig’ received £50,000 plus £75,000 advertising spend through the STV supported STV Growth EDGE Award.
North Uist Distillery was also successful, picking up £70,000. The business produces its range of ‘Downpour’ gins and aims to expand into whisky production within the next year.
As the standout business from a circular economy perspective, Crack Map received £40,000 for its ground-breaking and innovative non-contact inspection technology, applicable to various sectors.
In the Social Enterprise category, Social Stories Club received £65,000 for its range of food-based services.
Scottish EDGE is supported by The Hunter Foundation, Royal Bank of Scotland, the Scottish Government and Scottish Enterprise.
Keynotes speakers at the event included Sir Tom Hunter and Deputy First Minister, John Swinney, with opening remarks from Scottish EDGE chairman David Shearer.
Wild Card EDGE – the category for pre-trading companies, sole traders and partnerships – paid out £75,000.
Metacarpal and Rhizocore Technologies were rewarded in the Young EDGE category for entrepreneurs under the age of 30.