Pitch event

Scottish EDGE is back with added benefits

Steven Hamill, chief operating officer, and Evelyn McDonald, chief executive

Scottish EDGE, the pitching event for startups, opens for submissions today for what will be its 20th round of funding in eight years.

Last year saw 40 early-stage businesses receive a total of £1.65 million and there will be an increase in funding in two categories this year: Young EDGE, which recognises entrepreneurs aged 30 and under, and Wild Card EDGE, which caters for pre-trading companies, sole-traders and partnerships.

Each see an increase in funding from £15,000 to £20,000. As a result of further investment from Scottish Enterprise the number of recipients in the Young EDGE category will double to 14.

The 20th round will also include an additional prize in the main Scottish EDGE category of a day with Sir Tom Hunter’s investment arm, West Coast Capital, including lunch with Sir Tom courtesy of The Hunter Foundation.

Another change to the competition in recognition of the greater challenges often faced by social enterprises to repay loans, is a reverse in the grant-to-loan ratio of the Social Enterprise category, which will now be 70% grant and 30% loan.

Royal Bank of Scotland will continue its support of Scottish EDGE following the successful debut last year of the Net Zero Award, which acknowledges the efforts of companies prioritising sustainability, in light of Scotland’s commitment to becoming carbon neutral by 2045.

Leah Pape, head of high growth services at Scottish Enterprise, said: “Hot on the heels of the Scottish EDGE 19 winners being announced last month, it’s great to see the launch of EDGE 20.

“EDGE plays an important role in supporting innovative, high-growth-potential start-ups.”

Evelyn McDonald, CEO of Scottish EDGE, said: “Over the past eight years, Scottish EDGE has celebrated the innovation and dedication of over 500 businesses, and we are thrilled to continue supporting entrepreneurship through our 20th round of awards.”

To ensure its long-term sustainability, Scottish EDGE invites winners to sign up the EDGE Pledge to contribute a minimum of 1% from exit proceeds back into the fund.

Applications for the 20th round of awards close on 23 August, with finals taking place on 6 and 7 December and an in-person award ceremony at Royal Bank of Scotland Conference Centre in Gogarburn.

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