One of the first queries we get from people starting their business is ‘Is there any FUNDING available for my business?’
The Team at Elevator keep up to date with all funding opportunities available for both start-up and growing businesses so that we can work as a signposting service for the businesses we help.
Through our Business Accelerator Programme (currently open for applications), we also support ambitious entrepreneurs to become pitch perfect and investor ready.
Recent funding success has come from a relatively new source of funding called the Scottish EDGE Fund.
The Scottish EDGE is offering Scotland's entrepreneurial businesses the chance to pitch for up to £150,000 in funding and support. This is open for applications right now.
Businesses are able to apply for the competition's ninth round, with a total prize fund of £1.3 million available.
To date, 205 businesses have received the coveted Scottish EDGE award, generating 641 Scottish jobs, producing an additional £31.80 million in turnover, and receiving £28.36 million in external investment as a result of the fund's support.
Applications to Scottish EDGE round nine will be accepted through the competition website until September 7th, 2016 at 2pm, requiring an application form and a short video pitch.
Applications will then be assessed by a number of independent, expert panels before being shortlisted to participate in a Scottish EDGE semi-final or the final of the subsidiary competition categories, the Higgs EDGE, Wild Card EDGE or Young EDGE. Prizes of up to £150,000 will be awarded at a full day pitching event in mid-December.
Get Ready to Pitch
Get ready to pitch for Scottish EDGE Funding with Elevator in both Aberdeen and Dundee on the 17th of August.
Come along to Elevator's Pitch training events in Aberdeen and Dundee on the 17th of August to hear from the Teams at Elevator and Scottish EDGE Fund and discover how to master your perfect pitch and instructions on how to progress your application.
Step one: Attend some pitch training with The Scottish Edge and Elevator Teams.
This is an official feeder event for Venturefest Scotland 2016 – Scotland’s innovation summit.
Step two: Equipped with your enhanced video pitching knowledge, submit your video pitch (lasting three mins) and your application form to Scottish EDGE.
Step three: If you are successfully shortlisted at this stage, you will be asked to pitch live to a small group of judges in one of the locations across Scotland.
Step four: If your pitch to the judges is successful, you will be invited to pitch live to an audience at RBS Gogarburn - this will include pitching on stage to a live audience and a distinguished panel of judges.
Recent Success Stories
Two Aberdeen-based start-up companies – which have developed technologies aimed at saving the oil and gas industry money - celebrated recently after being awarded £140,000 in Scottish EDGE funding. Brothers Ed and Richard Nimmons, of Dry Ice Scotland, secured £100,000 worth of funding, while Tristam Horn, of Deep Water Oil Tools, was awarded £40,000 in the live business pitching event.
Both Ed and Tristam recently completed the 10-week Accelerator Programme, run by Elevator. Ed Nimmons of Dry Ice Scotland described the Scottish EDGE funding as ‘transformational’ and said it will be used to build the Aberdeen-based company’s revolutionary new equipment, which is aimed at the oil and gas and petrochemical industries. The first such equipment of its kind, it will very quickly be put to use in long-term trials in the UK.
“Our latest product can be deployed anywhere in the world, including offshore and remote sites. We use frozen pellets of carbon dioxide for blasting to remove corrosion, coatings and other contaminants, so it is environmentally friendly. Dry ice blasting creates zero waste, resulting in saving time and money compared to conventional means. It’s also safer and is carbon neutral because the CO2 we use comes from recycled sources.
"We applied for Scottish EDGE funding to enable the development of our new product, which can save the industry hundreds of thousands of pounds in maintenance costs and reduce the carbon footprint of our customers. Finding suitable funding streams when developing new products in a niche sector can be difficult, so Scottish EDGE is an invaluable resource for companies like us.
“Elevator has been an incredible help to the business, from helping us engage with the oil and gas market, to taking an active role in developing our business pitch. I do not believe we would have succeeded in the Scottish Edge competition without them.”
Meanwhile, Deepwater Oil Tools has developed SeaCure® Cementing, a cost efficiency service for the oil and gas drilling industry, which makes cementing operations for well construction quicker and with less risk, while also making subsequent drilling runs significantly faster.
Business Director Tristam Horn said that he applied for the Scottish EDGE funding in order to help build a business development team to assist with client engagement and supporting the numerous service enquiries from drilling operators.
“The ScotEDGE final was an exhilarating and educational day full of fantastic businesses pitching terrific products and services. It was great to be in the presence of business veterans giving sound advice and coaching, as well as having the success of being a winner.
“Going through the process has been invaluable for building a great network of like-minded individuals and businesses, as well as having constructive feedback for the business at each stage of the journey from hugely experienced business judges.
“The money we were awarded will be used to employ business development engineers, resourcing them adequately to service the enquiries for SeaCure® Cementing and build strong client relationships. It will also accelerate the business on its growth journey by putting SeaCure® Cementing in front of more cost efficiency focused drilling operators, pushing uptake across multiple geographic regions.
“Elevator has provided key networking opportunities, dispersing SeaCure® Cementing around the North Sea and giving invaluable pitch training to help secure the funding for the business.”