£400,000 invested into regional EDGE entrepreneurs
Summary
The new Regional EDGE prize fund of \xa3400,000 has been shared between 20 businesses.The pilot award, aimed at businesses in Aberdeen, Perth and Kinross, Dundee and Angus, and the Highlands and Islands, is the latest initiative in the long-standing relationship between the Scottish Government and Scottish EDGE.Funds were allocated through a competitive process, which involved pitching to a panel of judges and delivered in collaboration with local partners Opportunity North East, Elevator, GrowBiz and Highlands and Islands Enterprise.The award ceremonies took place across four weeks in each of the regions hometowns. Eight further entrepreneurs secured \xa315,000 funding.MedAscend took home a main prize of \xa350,000 for a training platform allowing medical students to improve communication and diagnostic skills, as did Rescue Winch, for its paddlesport safety equipment.All the winners will also become EDGE Alumni, granting access to the organisations network of contacts and business acumen.Deputy First Minister Kate Forbes said: The new, government-funded regional awards have been piloted to help fledgling businesses outwith the central belt develop and grow while capturing the competitive essence of entrepreneurism.I am delighted to see such a wide range of projects and businesses across all four regions being successful and hope the tangible injection of investment they have secured will help them take the next steps to growing and scaling their business propositions.Evelyn McDonald, chief executive of Scottish EDGE, said: As Regional EDGE reaches its conclusion, we celebrate the incredible innovation, resilience and entrepreneurial spirit that have flourished across Scotlands diverse regions.The impact of this initiative will continue to be felt as these entrepreneurs drive growth, create jobs, and inspire the next generation of innovators across Scotland.Scottish EDGE last month launched the 25th round of its country-wide funding competition, with 247 businesses applying for awards of up to \xa3150,000. Brigid Bio - \xa310,000 - A biotech company developing novel drugs to improve outcomes in patients at high risk of serious, drug-resistant fungal infections. Ovis - \xa315,000 - Sustainable wool pellets designed to be used by gardeners to improve water retention in soil, as an alternative to plastic granules. MedAscend - \xa350,000 - A training platform allowing medical students to improve their communication skills through virtual consultations with AI patients.