Surgical organ model developer among latest winners of Scottish Edge funding competition
A record-breaking £1.5 million of funding has been invested in 42 businesses after the latest winners of the Scottish Edge Awards were revealed.
Judges are said to have faced a “challenging task” choosing the winners after hundreds of high-calibre applications were received by Edge, the UK’s largest funding competition for high growth potential businesses. The eventual winners were chosen after two days of “intense” pitching.
One of the biggest winners at the awards, held both in person and online, was OrganLike, which specialises in developing realistic organ models for surgical training. The company received a total of £100,000.
In the social enterprise category, Social Stories Club received £65,000 for its range of food-based services that reinvest profits back into the community.
Scottish Edge is supported by The Hunter Foundation, Royal Bank of Scotland, the Scottish Government and Scottish Enterprise. Keynote speakers at the event included Sir Tom Hunter and deputy first minister John Swinney, with opening remarks from Scottish Edge chairman David Shearer.
Evelyn McDonald, chief executive at Scottish Edge, said: “It has been inspiring to see the talent and passion we have among start-ups in Scotland, which was demonstrated impressively through our latest funding round.
“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.”
Hunter said: “Once again Scottish Edge has proven the absolute need that quality businesses have for growth finance but as importantly the amazing wrap-around support Edge offers, the secret sauce if you will.
“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.”
Paula Ritchie, director, enterprise, Royal Bank of Scotland, added: “The standard and quality of the finalists this year made choosing winners for each category an exciting but challenging task. The awards have once again shown the quality of new businesses and start-ups which call Scotland home. It is crucial that organisations work together to create environments to help businesses and entrepreneurialism thrive.”