Scottish Edge receives £1m additional SE support
Startup funding body Scottish Edge has received an additional £1 million of support from Scottish Enterprise to grow the competition.
Thirty-nine businesses will now pitch for a share in Scottish Edge’s increased prize pot of almost £2m to a panel of judges chaired by Simon Hannah of Filshill and Kerry Sharp of the Scottish Investment Bank, Scottish Enterprise’s investment arm, on 5 and 6 December in Edinburgh.
The finalists are: Animation Garden; Araminta Campbell; Beringar; Bespoke Fabrics; Bounce Back Drinks; Boxergy; Captive; Cascade Water Products; Clean Water Wave; ClinSpec Diagnostics; CU Soar; Detailing Factory; Estendio; FreshMex; Good-Loop; Indomitable Leaders; InstaStock; Intelift; Kingdom Scotland; LiberEat; Miligen; Molke; Platinum Informatics; Pyramid WIFI; R3-IOT; RAB Microfluidics; Raven Controls; Revive Eco; Sensalytx; Sentinel Subsea; Spark and Rocket; Splatform; SussMyBike; Tenzor Geo; Teqnox; The Drinks Bakery; Tryit; Trojan Energy, and; Wootzano.
David Shearer, chairman of Scottish Edge, said: “We have seen a marked increase in both the quality and number of potential scale-up businesses applying to Scottish Edge. Our model of support has proven positive impact, something Scottish Enterprise has recognised by offering this additional funding support.
“While this enables us to double the number of winners we will only do so where the quality of the applicants meets our rigorous funding criteria. We remain resolutely committed to ensuring Scottish EDGE is both a sustainable business and a force for entrepreneurial good.”
Linda Hanna, managing director of Scottish Economic Development at Scottish Enterprise, said: “Ambitious entrepreneurs are the lifeblood of every economy as they create and grow the businesses that sustain economic growth.
“Scottish EDGE’s excellent reputation attracts some of the most exciting Scottish entrepreneurial talent to pitch, and that’s why we’re collaborating with them and offering an additional £1 million in funding.
“With this funding, we can double the number of businesses Scottish EDGE supports and help drive Scotland’s future economic prosperity.”
Evelyn McDonald, CEO of Scottish EDGE said: “When launching this latest round of Scottish EDGE we gave it the title “Lucky 13” and that has certainly been the case. The calibre of businesses we’ve seen enter has been exceptional and the ever-increasing appetite we have observed for what we offer to Scotland’s innovative startups is very humbling.
“We are delighted and enormously grateful to Scottish Enterprise for their recognition of this with such an astounding gesture of support. The additional funding will allow us to say yes to worthy businesses we would not have been in the position to support otherwise.”