The Scottish EDGE is a competition designed to help entrepreneurs realise their growth ambitions and contribute to Scotland’s economic success.
Now open to applications for a fourth round, the Scottish EDGE invites entrants to submit basic information about their business, together with a growth plan and a short video explaining how they would use a cash injection to boost their operations.
Applicants deemed to have the strongest growth plans will be invited to present their ideas in a Dragons’ Den style pitch to a combination of business and public sector representatives. Those pitches demonstrating the most potential will be invited to go on to present their idea before a select panel.
The latest funding round has a focus on young entrepreneurs. Scottish EDGE applicants can win awards of up to £50,000 to help deliver their growth plans, whilst those entering via the dedicated Young EDGE strand (for those age 18-30) can win up to £10,000. Winners will also receive a support package which may include free banking, security advice and mentoring. Further assistance, in the form of investment or innovation advice, will also be provided where appropriate.
The competition is open to entrepreneurs operating small businesses in Scotland that have the potential to achieve or increase sales by £400,000 within a three-year period (or £200,000 in the Highlands and Islands region and those entering via Young EDGE) and which also have a desire and ability to create new jobs.
Business must have been incorporated within the previous three financial years and be in a position to trade internationally. Eligible companies are those with 24 or fewer current members of staff.
The deadline for entries is 5 March 2014 (5pm).