University of Edinburgh spin-out & start-up companies did pretty well at the recent Scottish EDGE Awards, with five of our companies winning a total of £250,000.
During a high energy day, twenty-two of Scotland’s most promising entrepreneurs pitched their businesses to an expert panel of judges aiming to win up to £100,000 each in grant funding and loans from Scottish EDGE.
Winners were also announced in three other categories: Higgs EDGE, which seeks to identify technology businesses with global commercialisation potential; Young EDGE, for entrepreneurs under the age of 30; and Wild Card EDGE, for businesses who have yet to commence trading.
Spin-out and start-up companies from the University of Edinburgh did particularly well in this year's competition, with £250,000 secured to grow these University supported enterprises:
- eoSurgical: Created simulators to train surgeons to help make surgical procedures safer (Scottish EDGE winner, £100k)
- Robotical: Created ‘Marty’ – a robot to inspire the next generation of engineers and scientists (Scottish EDGE winner, £60k)
- EuroBiotix CIC: Community interest company that aims to expand access to Faecal Microbiota Transplantation (FMT) (Scottish EDGE winner, £40k)
- Particle Analytics: Develop solutions for analysis of numerical simulations of particles and bulk solids (Scottish EDGE winner, £40k)
- Tipple Box: Cocktail-making kits, sent by post (Young EDGE winner, £10k)
Scottish EDGE Chief Executive Officer Evelyn McDonald said:
“We received a total of 239 applications for Scottish EDGE round eight from around the country, representing businesses in every business sector. For those who didn’t win this time round it’s not a no, it’s a not yet. We look forward to opening round nine in August and encourage new and old applicants to apply for Scottish EDGE funding and support.”
Gordon Merrylees, Scottish EDGE board member and Head of Entrepreneurship at Royal Bank of Scotland and Natwest, commented;
“The Scottish EDGE has had a huge impact on Scotland’s economy, with our alumni having generated an additional £31.80 million in turnover, secured £28.36 million in additional investment, and created 641 jobs since receiving their Scottish EDGE funding and support. We’re looking forward to continued success as today’s winners join our group of high-achieving alumni.”
Sir Tom Hunter, renowned Scottish entrepreneur and philanthropist, said;
“100% of the net new jobs in the UK will come from businesses less than five years old – the winners at Scottish Edge are the job creators of today. We need to invest in them and nurture them in any way we can to build our economy and to provide the quality jobs our people deserve. We need to build a far greater pipeline of high growth businesses if Scotland is to succeed, Scottish Edge is one critical element of that pipeline and I commend all the entrants – not winners yet – and the winners for their commitment to building great entrepreneurial businesses.”