Scottish start-ups receive £852k to help grow economy

Published: 10 Dec 2014 09:30

News

MORE than £850,000 was paid out to Scottish start-ups last night (Tuesday, December 9) to help boost the country’s economy.

Twenty-six separate awards were bestowed upon the “exceptional” new Scottish businesses which were best able to demonstrate their ability to grow, generate turnover and create new jobs in the RBS-sponsored ScotEDGE Final.

Those to benefit were:

• Safetray Products Ltd, £31k : Developed G-Hold – a tool for safely holding iPads and tablets.

• Celtic Sea Spice Company (T/A Mara Seaweed), £50k : a range of artisan seaweed seasonings

• Beauty Kitchen UK Ltd, £30k: Develops, makes and sells a range of beauty products.

• Trans World Soccer, £45k : Offers live like a professional footballer tours to football youth clubs and schools.

• snap40 Ltd, £40k : Developing a wristband that monitors patients indicators to reduce cardiac arrest.

• nooQ Ltd, £32k: Data visualization software to transform productivity.

• West Coast Fisheries & Butcher Ltd, £100k : Innovative food manufacturer specialising in venison.

• Swipii, £20k : A tablet-based digital loyalty programme for small and medium-sized businesses.

• Lobster Pod Ltd, £100k : An innovative live shellfish transportation system.

• Pulsetta Foods Limited, £50k : Developed bakery products from pulses (in particular peas and lentils), which are gluten-free.

• Hectares Food Limited, £50k : Sweet potato crisps.

• The Kiltwalk, £50k : Organises charity walking events to support children’s charities.

• Dunnet Bay Distillers Ltd, £50k : Rock Rose Gin – a unique gin which is made using local botanicals.

• Sunamp Limited, £50k : Sunamp Heat Batteries – innovative, high-efficiency heat energy storage systems.

• Chocolati Ltd, £27k : Quality chocolate maker including “Maw Broons” range.

• Smoother Spirits Ltd, £52k : Produces Uisge Source – a range of bottled spring waters to compliment malt whisky.

A total of £75,000 was also awarded to Young Edge winners as part of the awards ceremony, which was hosted by RBS at its Gogarburn HQ and opened by TV personality Carol Smillie, who is also the founder of Diary Doll – a former ScotEDGE winner.

The event saw a panel comprising some of Scotland’s leading business people, including entrepreneur and philanthropist Sir Tom Hunter, Alison Rose of RBS, Bill Morrow of Angel’s Den, Diet Chef’s Kevin Dorren, and Eleanor Mitchell of Scottish Enterprise, award up to £100k per winning business.

Each of the winning businesses pitched to the panel of judges in front of a live audience of 300 people and then faced a Q&A of nine minutes. The scoring criteria for applications covered business growth potential, entrepreneurial spirit, innovation, ambition, internationalisation and risk-cost awareness.

The final follows on from a number of regional heats which took place across Scotland and saw 69 businesses awarded funds.

To the end of September 2014 this investment has generated 207 jobs, £8.4 million turnover and £4.25 million investment.

Sir Tom Hunter, chairman of West Coast Capital and The Hunter Foundation said:“Entrepreneurial businesses are the lifeblood of Scotland and its economy. The Scottish EDGE offers ambitious entrepreneurs a leg up the ladder towards long-term success. We were delighted with the quality of applications and the winners have demonstrated their edge and ambition to grow a business in Scotland. We look forward to working with all of the applicants with wrap-around support to help them scale up.”

Deputy First Minister John Swinney said: “Since the launch of Scotland CAN DO, we have created a platform to allow our ambitious entrepreneurs to excel. This has been driven-forward by the collective impact of public, private and third sector partners.

“ScotEdge exemplifies what can be achieved with a collaborative approach and shared ambition of becoming a world-leading entrepreneurial and innovative nation.”

Gordon Merrylees, head of Entrepreneurship at RBS and NatWest added: "We are delighted to have supported the Scottish EDGE since its inception. In my mind it highlights just how seriously RBS takes its responsibility in supporting entrepreneurs and growing businesses throughout Scotland. The finalists we have seen have been of the highest calibre and the judges will have a tough job. The EDGE Final is a true example of the Scottish business ecosystem at play."

The awards were supported by a number of partners and ambassadors including Harper Macleod, Johnston Carmichael, Amazon Web Services (AWS) and Samsung, which were on hand to offer free support to Scotland's up and coming entrepreneurs.

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