Firms tackling Covid issues add to rise in Edge entries
Evelyn McDonald: innovation born amidst crisis
Companies addressing issues thrown up by the pandemic are among a rising number of applications to the latest Scottish Edge funding round for startups.
Applications are up by 24% to a record 305, driven in part by individuals starting their own ventures in response to the pressure on jobs and the Covid crisis.
Female co-founders represent 57% of applications which may add to growing evidence that women are being impacted more by the pandemic and are choosing to start their own enterprises.
Evelyn McDonald, CEO, Scottish EDGE said: “We’re encouraged to see so many applications, particularly after such a challenging time for the business ecosystem in Scotland.
“With almost half of this round’s applications coming from pre-trading business, we’re seeing that familiar trend of innovation born amidst crisis.
“Job losses and lack of employment have encouraged many to make the entrepreneurial leap, including a disproportionate amount of women, and what we’re also seeing across the applications are companies positioned to address many of the issues that have been thrown up by the pandemic.”