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Scottish EDGE open for applications

21 August 2013

Highlands and Islands entrepreneurs are being encouraged to apply for round 3 of the Scottish EDGE.

The £2 million Scottish Government competition, which aims to support and encourage growth in Scotland, is now looking for applications from ambitious entrepreneurs who wish to establish or grow their business.

There have been three Highlands and Islands winners so far, Stormpods, The Thurso Cinema and Hebridean Sea Salt, which have benefited from a combined total of £115,000.

Aimed at stimulating economic growth the fund will invest up to £50,000, from a total pot of around £750,000 for this round, in businesses that demonstrate the most potential. Winners will also receive a package of support from The Royal Bank of Scotland which may include free banking, security advice, or mentoring support. Further support in the form of investment or innovation advice will also be provided where appropriate. To date, the Scottish EDGE has invested over £1.2 million in 35 companies.

To be considered, applicants must submit an application form and a 3-minute video pitch. The 60 applicants who score the highest will attend one of two semi-finals across the country. The final 30 will then pitch to a high level investment panel, drawn from Scotland's leading entrepreneurs and business people, in December 2013.

Alex Paterson, Chief Executive of Highlands and Islands Enterprise, said:  "The first two rounds of the Scottish EDGE competition have already proven that Scotland is a fantastic place to start and grow a successful business. We have a huge amount of support across the public and private sectors for entrepreneurs across the country and this latest round of funding will seek to identify the best of Scotland's up-and-coming business talent. There has never been a better time to come forward with sound, commercial ideas and see them come to life."

Applicants can find more information via: www.hie.co.uk/ScottishEDGE

Applications close at 3pm on 18 September 2013.

  • The Scottish EDGE is administered by Scottish Enterprise and is a partnership project between Highlands and Islands Enterprise (HIE), Scottish Enterprise, Scottish Government, Business Gateway, Royal Bank of Scotland (RBS) and Entrepreneurial Spark. It is open to small, Scottish businesses less than five years old which have the potential to achieve or increase sales by £400,000 within a period of three years (or £200,000 in the Highlands and Islands region) and which also have the potential to create new jobs. The Scottish Government has worked closely with Scottish Enterprise, Highlands and Islands Enterprise, Scottish Development International, RBS, Prince's Trust, Prince's Youth Business Trust, Business Gateway and Entrepreneurial Spark in developing the fund.
  • RBS is working in partnership with the Scottish EDGE Fund and their relationship managers will work with the winners, nurturing them as they develop their business, and provide them with a package of support including £50,000 of funding, two year's free banking, essential security and mentoring support from RBS, as well as support from Business Gateway.

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