£1 million-plus boost as latest winners of Sir Tom Hunter-backed Scottish Edge competition unveiled
Nearly 30 early-stage, high-growth Scottish businesses have been awarded more than £1.1 million thanks to one of the biggest funding competitions of its kind.
Among the main winners of the latest round of Scottish Edge Awards, which was held online, was Edinburgh-based Dyneval, a provider of portable technology for cattle semen analysis designed to help boost conception rates.
The firm, co-founded by Tiffany Wood and Vincent Martinez, received a total of £100,000 in the award sponsored by the Industrial Biotechnology Innovation Centre (IBioIC) in Glasgow.
Also scooping £100,000 was fellow Edinburgh firm Waterwhelm, which has developed “game-changing” technology to produce drinking water from almost any source. It was the winner of the Higgs Edge award for science, technology and engineering focused businesses.
Another winner in the latest funding round was Fife-based Bug Bakes, which makes dog food with insect protein. It received £50,000 plus £75,000 advertising spend through the STV Growth Award.
In total, 29 businesses from a range of sectors across Scotland have benefited to the tune of £1,175,000.
At the virtual event, keynote speakers were Ayrshire-born entrepreneur and philanthropist Sir Tom Hunter and Matt Moulding, boss of The Hut Group (THG), which was recently valued at some £4.5 billion and in which Hunter has invested.
Scottish Edge is supported by The Hunter Foundation, Royal Bank of Scotland, the Scottish Government and Scottish Enterprise.
Last month, some of Scotland’s leading entrepreneurs committed an additional £1m of grants and loans to the competition. This included funding from Hunter, Kevin Dorren, Sir Brian Souter, James Watt, Lord and Lady Haughey, Chris van der Kuyl and Paddy Burns.
Gordon Merrylees, managing director, entrepreneurship, Royal Bank of Scotland, said: “We are proud to support Scottish Edge who share our passion and commitment to Scottish entrepreneurship, and a purposeful business community.
“This year’s winners are a testament to the quality and innovation that exists across the country’s start-up and high growth businesses.
“We wish all the winners and entrants all the very best for the future and look forward to supporting their future growth ambitions.”
Ross Lamond, founder and chief executive of Bug Bakes, said: “It’s an amazing honour to have been chosen as a Scottish Edge winner. It could not have come at a better time and will now allow the business to scale up and reach new markets that otherwise would not have been possible.”
Edinburgh-based Treen, a vegan fashion retailer, was awarded £60,000 at the Scottish Edge Awards Round 17.
Harris Grant, director of Treen, said: “Being part of such an incredible opportunity means everything to us, and to be a Scottish Edge winner is a highlight of our journey as a business.
“We started Treen to make a positive impact on our community and the environment, so it feels extremely special to be awarded this as recognition in Scotland. We’re looking forward to all there is to come for us and the rest of the Edge winners.”
As the “standout” business from a circular perspective, QuickBlock received £80,00 as the winner of the Circular Economy Award for its flat-packed, interlocking building system made from 100 per cent recycled plastic.