Scottish EDGE, Scotland’s biggest business funding competition, is set to provide more opportunities for entrepreneurs living outside the central belt thanks to a new programme backed by £400,000 of Scottish Government funding. 

To recognise entrepreneurial candidates from across the country, ‘Regional EDGE’ will invite innovative, high growth startups from across Perth and Kinross, Dundee and Angus, North East, and the Highlands and Islands to take part in a contest with the chance of winning up to £50,000 in prizes.

The funds will be allocated via a competitive Scottish EDGE process delivered by region specific delivery partners, including Opportunity North East, Elevator (Dundee and Angus), GrowBiz (Perth and Kinross), and Highlands and Islands Enterprise.

Each region will deliver its own ‘finals’, resulting in five winners, with awards in each region consisting of one £50,000 top award, two £15,000, and two £10,000 awards. 

Scottish EDGE said that the winners will also be named EDGE Alumni, receiving access to the organisation’s network of contacts and business acumen, while all applicants will receive feedback from a panel of business experts to support them on their entrepreneurial journeys.

To date, Scottish EDGE said it has supported 635 businesses, awarding over £26 million in grants and loans to winners representing a range of regions and sectors across Scotland. 

“The launch of Regional EDGE showcases our commitment to fostering innovation, creativity, and entrepreneurship across Scotland’s diverse regions,” said Simon Hannah, chair of Scottish EDGE.

“With the backing of the Scottish Government and our valued delivery partners, Regional EDGE aims to shine a spotlight on promising startups in four key areas, providing ambitious entrepreneurs with the critical funding and support they need to bring their bold ideas to life.”

Last year’s Scottish EDGE Awards saw £1.5 million invested into 38 early stage, high growth businesses, with the event seeing the unveiling of the Pathways Award backed by the Scottish Government, aimed at empowering female entrepreneurs.

This year, another new award was established to boost creative startups in Scotland with a £100,000 Creative Award being introduced through collaboration between Scottish EDGE and Creative UK.

Commenting on the new Regional EDGE scheme, deputy first minister Kate Forbes, said: “The partnership between the Scottish Government and Scottish EDGE has long driven our ambition to become a world-leading startup nation and this new project further emphasises that desire.

“This new regional programme will help fledgling businesses out with the central belt develop and grow while capturing the competitive essence of entrepreneurism, providing essential support for innovation across Scotland.”

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Earlier this month, the Scottish Government announced that more than £1.9 million would be awarded to help entrepreneurs and increase access to business careers, with those under-represented in business, including women and ethnic minorities, benefiting through the Pathways Fund.

Applications for the Regional EDGE competition open on Monday 9 December and will be accepted until Monday 20 January, with regional finals taking place in February and March 2025.