finance

Scottish EDGE awards 29 business with £1.18 million



Scottish EDGE has awarded 29 businesses from a range of sectors across Scotland around £1.18m.

The competition is aimed at identifying and supporting Scotland’s innovative, high-growth, entrepreneurial talent.

The final brings the total money awarded by Scottish EDGE to early stage businesses to around £17.8 million in the 17 rounds now completed.

This year, Scottish EDGE received 305 applications. The finalists pitched to judges on 11 May in front of a virtual audience.

Edinburgh-based Dyneval received £100,000 in sponsorship from the Industrial Biotechnology Innovation Centre in Glasgow for its portable technology which analyses cattle semen designed to help boost conception rates.

The money was awarded at an online event on 25 May to the co-founders Tiffany Wood and Vincent Martinez.

Waterwhelm in Edinburgh also received £100,000 in funding after it won the Higgs EDGE award for science, technology and engineering focused businesses.

It has developed a technology that produces drinking water from almost any source.

Bug Bakes from Fife received £50,000 plus £75,000 advertising spend through the STV growth award. The company makes dog food with insect protein to reduce the animal’s carbon ‘pawprint’ by up to 99%

Edinburgh-based Treen, a vegan fashion retailer, was awarded £60,000, while Quick Block received £80,000 as the winner of the circular economy award for its flat-packed building system made from recycled plastic.

In the social enterprise category, the award was split between two businesses, with Well-Fed receiving £60,000 for its range of food-based services that re-invest profits back into the community, while Animalia Apparel got £25,000 for its fight wear that supports disadvantaged young people.

The virtual event featured keynote speakers Sir Tom Hunter and Matt Moulding, chief executive and chairman of global technology platform The Hut Group.

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 award of £15,000.

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.

Gordon Merrylees, managing director for entrepreneurship at Royal Bank of Scotland, said: “This year’s winners are a testament to the quality and innovation that exists across the country’s start-up and high growth businesses.”

Dr Tiffany Wood, chief executive officer and co-founder at Dyneval, said: “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.”

Harris Grant, director of Treen, said: “We started Treen to make a positive impact on our community and the environment, so it feels extremely special to be awarded this as recognition in Scotland.”

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