Scottish EDGE round 20
Having already invested £20 million into over 500 businesses with entrepreneurial potential, the Scottish EDGE Awards round 20 opens in July 2022. Awards can be up to £100,000 per company.
Expanding on last round’s awards, which saw 40 early-stage businesses receive a total of £1.5 million, the 20th round will include an additional prize for a top award winner in the main Scottish EDGE category of a day with Sir Tom Hunter’s investment arm, West Coast Capital, including lunch with Sir Tom courtesy of The Hunter Foundation.
In a further boost to new entrants, two award categories will see a rise in the funding amount awarded to winners. The Young EDGE category, which recognises entrepreneurs aged 30 and under, and the Wild Card EDGE category, which caters for pre-trading companies, sole-traders and partnerships, will each see an increase in the top prize award from £15,000 to £20,000. As a result of further investment from Scottish Enterprise the number of winners in the Young EDGE Category will again double to 14.
Another change to the competition in recognition of the greater challenges often faced by social enterprises to repay loans, is a reverse in the grant to loan ratio of the Social Enterprise category supported by the Postcode Innovation Trust, which will now be 70 percent grant and 30 percent loan moving forward.
Royal Bank of Scotland will continue its support of Scottish EDGE following the successful debut last year of the Net Zero Award, which acknowledges the efforts of companies prioritising sustainability, in light of Scotland’s commitment to becoming carbon neutral by 2045.
Firms demonstrating sustainable practices will also have the opportunity to be rewarded with the Circular Economy Award supported by Zero Waste Scotland. The STV-supported Growth Award, meanwhile, not only offers funding support but also includes airtime and a launch commercial to one consumer-based product business.
To ensure its long-term sustainability, Scottish EDGE invites winners to sign up the EDGE Pledge to contribute a minimum of 1% from exit proceeds back into the fund. Scottish EDGE is supported by The Hunter Foundation, Royal Bank of Scotland, the Scottish Government and Scottish Enterprise and has a vital role to play in the country’s economic growth.
Applications for the 20th round of awards close on 23rd August, with finals taking place on 6th and 7th December and an in-person award ceremony at Royal Bank of Scotland Conference Centre in Gogarburn.
(Scottish EDGE is not affiliated with Innovate UK Edge).