Metahelios has been revealed as the British Business Banks‘ Start Up Loans Programme Small Business Ambassador to Scotland.

The Bank recognised 12 small businesses from across the UK as leading and inspiring examples of UK startups supported by the programme.

So far, the programme has delivered more than £1 billion of funding to over 105,000 businesses since 2012. Of these loans, 50% of loan recipients have been women, and 20% have been from minority ethnic backgrounds.

In Scotland, the British Business Bank as made 6,855 loans, totalling to the amount of £62,930,827.

For this year’s cohort, Glasgow-based Metahelios was chosen after receiving a Start Up Loan from the Bank in January this year.

The imaging tech startup is developing a first-of-its-kind long distance camera that could be sent to space in support of a range of sectors.

A spin out, the company was set up by physicists from the University of Glasgow in January 2022 by Charles Altuzarra and Yash Shah.

Setting their sights on the stars, the company is currently in talks with the UK Space Agency for the potential to join a rocket launch from British soil.

The annual Start Up Loans Ambassadors programme, now in its eighth year, aims to celebrate exceptional business owners who have launched an enterprise using funding from the government-backed scheme.

Each Ambassador is selected for their ability to inspire others and embodies the can-do mindset it takes to make a start-up successful.

Recommended reading

• Metahelios Gains Funding Lift Off for Imaging Tech
• Scots Gov establishes new fund for startups
• Small Scottish Businesses to Benefit from £150 Million Investment

Drawn from each of the UK’s 12 Nations and Regions, the 2023/24 Start Up Loans Ambassadors reflect the broad diversity of sectors and business owners supported via the programme.

Richard Bearman, managing director of Small Business Lending, British Business Bank, said: “Start Up Loans is proud to support and nurture British entrepreneurial spirit and I’m inspired to see the breadth and diversity of this year’s Ambassadors. They represent the dedication and resilience that it takes to launch and grow a business in the current economic environment. Small businesses are a vital part of the UK economy, and when they thrive, we all do.

“These Ambassadors are being celebrated soon after we’ve passed the huge and exciting milestone of having put £1 billion of finance into UK startups through the Start Up Loans programme. We hope these great business owners help us to reach new heights and support even more aspiring entrepreneurs.”

Through a network of business support partner organisations, the Start Up Loans programme provides access to pre-and-post loan support to help applicants to develop a business plan; fixed-interest first and second loans of up to £25,000 to start or grow their business; as well as mentoring support to help loan recipients with everything from cash flow to marketing.