Eighteen business concepts, including numerous technology-led ideas, have received funding following the results of Venture, an annual three-stage competition from the University of Dundee.

With the goal of turning novel ideas into thriving future enterprises, the university’s students, staff, and graduates have received financing ranging from £1,000 to £12,500 through this year’s prize fund of £78,500.

In addition to the financial support, the winners are also set to receive a place on a summer business accelerator programme from Elevator, the Scottish social enterprising supporting entrepreneurship.

Among the fledgling business ideas to succeed were AQusTx, a software tool for AI-driven drug design, and Cognicall, an automated phone-based cognitive health monitoring service.

Both received £12,500 having been named winners of the McGhee Award, donated by the CEO of Current Health—the virtual care-at-home platform—and former university student Christopher McGhee and his partner Jo-Ann.

Other winners included Leximos, an adaptive language learning platform, and Bio-Wool, a no waste and biodegradable material made from British wool.

The Venture final marked the culmination of the University’s annual Entrepreneurship Week, a series of workshops and lectures championing opportunities for small enterprise in Scotland.

Dr David McBeth, vice-principal of enterprise and economic transformation at the university, spoke on the competition’s results, saying: “This year’s Venture competition has once again demonstrated the dynamic and enterprising spirit that is prevalent throughout our university community.

“All of our entries displayed enormous potential, and I have no doubt that all have the capability to be successful enterprises in the future.

“The Venture competition once again served as a tremendous finale to our annual Entrepreneurship Week, organised by the University’s Centre for Entrepreneurship, and I wish all of our winners well on their business journeys.”

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The full list of Venture 2024 winners is as follows:

Business Award
Jukebox — Issac Jarman, Matthew Gibson-Smith, and Samuel Cole — £5,000

Post-graduate Researcher Award
Cognimusica — Justnya Skop — £3,000

Life Science Award
Placementt — Tom Barton — £3,000

Wildcard Award
Stories for Cycling — Mary Byford — £1,000
Your Choice Yearbooks — Nyasha Mutembwa — £1,000
Skills Bridge UK — Priya Chadha — £1,000

Medicine Award
Pocket Patient — Ahmed Sharaf and Hana Woods — £3,750
Cognicall — Lynden Nicely — £3,000

Science and Engineering Award
JBSB Studios — John Bradley and Steven Brison — £3,000
Leximos — Syed Murad — £2,000

Art and Design Award
Bio-Wool — Tom Stewart — £3,750
Highland School of Jewellery — Karen-Ann Dicken — £2,000
New Found Hope — Nathan Dudley — £2,000

Staff Award
AQusTx — Peter Ibrahim and Mike Bodkin — £12,500
Tooth4Life — Mohammad Islam — £5,500

Ruby Foundation
Neurona Haven — Rabinoor Khurana — £2,500

McGhee Award Winners
Cognicall — Lynden Nicely — £12,500
AQusTx — Peter Ibrahim and Mike Bodkin — £12,500