Scottish EDGE invests £1.5 million into 42 businesses
Growth funding competition receives hundreds of pitches during two-day event.
Scottish EDGE has invested in a total of 42 businesses with entrepreneurial potential, breaking its investment record with a total of £1.5m.
The high growth potential business funding competition received hundreds of applications. After two days of pitching, judges chose the winners.
Medical technology start-up OrganLike secured £100,000 to help develop realistic organ models for surgical training using synthetic tissue and augmented reality technology.
Creag Dhu, which ‘accelerate ages’ single malt Scotch whisky, also joined the winners list, receiving £50,000 plus £75,000 advertising spend through the STV Growth EDGE Award.
North Uist Distillery was also successful, securing a £70,000 investment.
Meanwhile, Crack Map received £40,000 as the winner of the Circular Economy Award supported by Zero Waste Scotland, for its non-contact inspection technology, applicable to various sectors.
In the Social Enterprise category, Social Stories Club received £50,000 for its range of food-based services that reinvest profits back into the community.
Wild Card EDGE winners – the category for pre-trading companies, sole-traders and partnerships – received a total of £75,000 and winners included Danu Robotics which was awarded the top Wild Card EDGE award of £15,000.
In the Young EDGE category for entrepreneurs under the age of 30, winners included Metacarpal and Rhizocore Technologies, which received the top Harper Macleod and Scottish Enterprise £15,000 prizes, respectively.
Scottish Enterprise this year contributed an additional £75,000 to the Young EDGE initiative, enabling a further seven winners aged 18 to 30 to be supported, taking the total to 15.
Evelyn McDonald, chief executive at Scottish EDGE, said: “It is a privilege for Scottish EDGE to support such exciting Scottish entrepreneurial talent and help companies and individuals access pivotal funding to accelerate their growth and development – this in turn helps drive forward Scotland’s future economic prosperity.”
Sir Tom Hunter, founder of The Hunter Foundation, added: “These entrepreneurs are the lifeblood of the Scottish economy and alongside scale-ups will be pivotal in providing the jobs and opportunities necessary for Scotland’s Covid recovery.
“Quality demand from businesses far outstripped supply so our development agencies need to step in and step up with more funding.”
This year’s Scottish EDGE winners in full:
- Alice Sharp (£75,000) from Glasgow – which provides online training to support those working in early learning and childcare.
- Crack Map (£40,000) based in Glasgow – has developed non-contact technology, improving the quality of data analysis procedure for structural health monitoring.
- Creag Dhu (£50,000 plus £75,000 advertising spend through STV Growth Fund) based in Strathmashie – distills Mashie Brig whisky for domestic and export brand building and distribution.
- DARe-3D (£50,000) based in Glasgow – offers UK-wide drone services, drone hire, sales and aerial stock.
- Defiant 3D (£50,000) based in Peterhead – is a 3D printer developer and supplier using our low-cost, patented metal 3D printing technology.
- Gigged (£40,000) based in Glasgow – has developed a digital talent platform called GIGGED.AI which allows gig workers to work on mission-critical digital projects remotely.
- Hoko Design (£50,000) based in Glasgow – uses a tech-focussed approach to provide architecture for homeowners, at scale, keeping the whole process in-house.
- Home Help Me Care (£60,000) based in Edinburgh – is a provider of bespoke care for older people in their homes.
- Jump Ship Brewing (£50,000) based in Edinburgh – brews alcohol-free beer in Scotland
- Know-It (£90,000) based in Glasgow – a platform which helps streamline the entire credit control process.
- Loch Electronics (£40,000) based in Edinburgh – innovates, engineers, designs and brings to market consumer electronics products focused on reducing global carbon footprint in households and offices.
- Lupovis (£50,00) based in Glasgow – provisions cyber-security dynamic deception environments using artificial intelligence.
- Net AI Tech (£50,000) based in Edinburgh – is real-time analytics company revolutionising the management of cloud-based virtual mobile networks.
- North Uist Distillery (£70,000) based in Benbecula – produces a range of gins and aims to expand into whisky production within the next year.
- OrganLike (£100,000) based in Inverness – is developing hyper-realistic organ models for surgical training.
- Staff Buddy (£60,000) based in Edinburgh – combines game-changing technology with an experienced team to source, recruit and manage shift workers for e-commerce businesses.
Social Enterprise EDGE winner:
- Social Stories Club (£15,000) based in Edinburgh – is a social enterprise which produces gift boxes containing products from social enterprises.
Wildcard EDGE winners:
- Danu Robotics (£15,000) based in Musselburgh – is a cleantech start-up developing a robotic solution for the recycling industry to increase recycling efficiency.
- FC Laboratories (£10,000) based in Dunfermline – is a wearable brain imaging technology aiming to make insights into cognitive performance as commonplace as tracking physical fitness.
- HeadOn Health (£10,000) based in Edinburgh – offers a digital therapy app proven to be effective in supporting concussion patients in their recovery.
- Make Tech Fly (£10,000) based in Blairgowrie – provides software products for the private jet sector coordinating the data required in a secure ecosystem.
- See Vac (£10,000) based in Glasgow – is a dental suction tool that combines suction, flexibility and vision within the mouth.
- Small99 (£10,000) based in Glasgow – provides practical advice to guide and accelerate micro businesses to net zero.
- The Prebiotic Company (£10,000) based in Edinburgh – sells a brand of prebiotic water and soft drinks.
Young EDGE winners:
- Black Goblin Audio (£10,000) based in Edinburgh – is an audio design and technology company aiming to provide sustainable and accessible sound production for all.
- Embodied Self Defence (£10,000) based in Aberdeen – is an education service aiming to grow self defence capability online, through gaming, art, film and e-learning.
- Farr Out Deliveries (£10,000) based in Edinburgh – is a cargo bike delivery service providing freight services to local businesses and individuals.
- Gloriah (£10,000) based in Edinburgh – is a sexual wellness brand centred around the needs and desires of today’s women.
- Jacks Alt-Stays (£10,000) based in Largs – is an ‘alternative eco-cabin’ experience launching on the Isle of Cumbrae in January 2022.
- Konglomerate Games (£10,000) based in Dundee – is a video games company specialising in healthcare and other applied games.
- Loch Chocolate t/a Treat Cheats (£10,000) based in Glasgow – has developed an indulgent 99 calorie chocolate bar filled with a soft nougat centre.
- Metacarpal (£15,000) based in Glasgow – is a company focused on changing the prosthetic hand industry, by creating a hand that uses no electronics resulting in a more effective product.
- Nuisance Drinks (£10,000) based in Edinburgh – makes botanical soda mixers inspired by the British countryside.
- Orange Matter (£10,000) based in Edinburgh – is seeking to develop an interactive 3D visualisation of spreadsheets which would both save time and reduce errors.
- Quas Drinks (£10,000) based in Edinburgh – is a plant-based live non-alcoholic beverage made using mixed fermentation (yeast and bacteria) of malts such as rye and barley.
- Rhizocore Technologies (£15,000) based in Edinburgh – produces symbiotic fungi that associate with trees.
- Tasteback (£10,000) based in Edinburgh – is an online farm-to-table service delivering fresh produce straight from farms in packaging that is recyclable or reusable for 20% cheaper than similar services.
- Two Raccoons (£10,000) based in Aberdeen – prevents food waste by turning surplus fruits into wine.
- Unbaggaged (£10,000) based in Glasgow – is the world’s first luggage concierge network connecting travellers wanting rid of bags with drivers who return them where and when needed.
Net Zero EDGE winners:
- Bennu.Ai (£50,000) – is developing a smart bin, which sorts waste automatically, increasing recycling rates by more than 40%, decreasing the carbon footprint and reducing waste management bills.
- SilviBio (£50,000) based in Edinburgh – has developed bio-based seed coatings and soil additives to increase seed germination, seedling survival, and decrease in water/fertiliser usage.
- SolarisKit (£100,000) based in Edinburgh – has developed the world’s first flat-packable solar thermal collector.
This article was first published by insider.co.uk