The Scottish EDGE Awards Round 17 has provided £1,175,000 to 29 winning businesses from across Scotland.
Held on May 25th, the online ceremony revealed the winners of the funding competition and the amount of money they received.
The final brings the total pot of money awarded through Scottish EDGE to support early stage, high growth businesses to around £17.8 million in the 17 rounds now completed.
As well as awarding businesses with funding, Scottish EDGE also provides a business support package that includes mentoring, support, and signposting to alternative finance. Its funding is awarded as 50% grant and 50% loan which is paid back to help fellow entrepreneurs on their pathway to success.
One of the day’s biggest winners was Edinburgh-based was Waterwhelm in Edinburgh, which has developed a game-changing technology to produce drinking water from almost any source. It was the winner of the Higgs EDGE award for science, technology, and engineering-focused businesses.
Also scooping £100,000 was Dyneval, another Edinburgh-based company, which provides portable technology for cattle semen analysis designed to help boost conception rates. The firm received a total of £100,000 in the award sponsored by the Industrial Biotechnology Innovation Centre (IBioIC) in Glasgow.
Dyneval CEO and co-founder Dr Tiffany Wood said: “The team at Dyneval is absolutely delighted to have won a Scottish EDGE award. This award will accelerate our market readiness and growth to build a Scottish business that will have a strong and positive impact on the profitability and sustainability of dairy farming, worldwide.”
Scottish EDGE promotes long-term sustainability of the funding pot through its pioneering ‘EDGE pledge’, inviting award winners to sign up 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.
Managing director for entrepreneurship at the Royal Bank of Scotland Gordon Merrylees said: “We are proud to support Scottish EDGE who share our passion and commitment to Scottish entrepreneurship, and a purposeful business community.
“This year’s winners are a testament to the quality and innovation that exists across the country’s start-up and high growth businesses.”
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Also among the winners was LiberEat, a technology app that shows allergens in groceries, menus, and recipes. The Aberdeen-based company received a total of £35,000 of funding.
As the standout business from a circular perspective, QuickBlock received £80,000 as the winner of the Circular Economy Award for its flat-packed, interlocking building system made from 100% recycled plastic.
In the Social Enterprise category, the award was split between two businesses, with Well-Fed (Scotland) receiving £60,000 for its range of food-based services that re-invest profits back into the community, and Animalia Apparel taking £25,000 for its world-class fight wear that in turn supports disadvantaged young people.
Wild Card EDGE winners – the category for pre-trading companies, sole-traders and partnerships – received £75,000 in total, including Theo Health which was awarded the top Wild Card EDGE award of £15,000. And Young EDGE winners – the category for companies where all directors are under the age of 30 – also received £75,000, with Lilypads getting the top Harper Macleod Young EDGE award of £15,000.