The winning businesses had to work hard to secure the accolade at the ScotEdge finals - which is backed by the Royal Bank of Scotland and The Hunter Foundation. They pitched for three minutes to the panel of judges in front of a live audience of 300 people and then faced a Q&A of nine minutes.
Along with the funding, the winners will receive mentoring and support from a mature entrepreneur and access to a range of public sector assistance; master classes and access to training; enrolment into the EDGE Alumni programme and assistance with future fundraisers.
Judges included Sir Tom Hunter, The Hunter Foundation; Alison Rose, Royal Bank of Scotland; Bill Morrow, Angel’s Den; Kevin Dorren, Diet Chef and Eleanor Mitchell, Scottish Enterprise - all of whom deliberated hard to reach a decision on the most worthy winners.
These awards follow on from a successful four previous rounds, which saw 69 Scottish businesses awarded funds. To the end of September 2014 this investment has generated 207 jobs, £8.4m turnover and £4.25m investment.
The Scottish EDGE is led by a board of seasoned entrepreneurs, bankers and public sector supporters. In essence Scottish EDGE is a £5m fund endowed by serial entrepreneur Sir Tom Hunter, the Royal Bank of Scotland and the Scottish Government.
Sir Tom Hunter, chairman West Coast Capital and The Hunter Foundation, commented: “Entrepreneurial businesses are the lifeblood of Scotland and its economy. The Scottish EDGE offers ambitious entrepreneurs a leg up the ladder towards long-term success.
"We were delighted with the quality of applications and the winners have demonstrated their edge and ambition to grow a business in Scotland. We look forward to working with all of the applicants with wrap-around support to help them scale up.”
Gordon Merrylees, Head of Entrepreneurship RBS and NatWest added: "We are delighted to have supported the Scottish EDGE since its inception. In my mind it highlights just how seriously RBS takes its responsibility in supporting entrepreneurs and growing businesses throughout Scotland.
“The finalists we have seen have been of the highest calibre and the judges will have a tough job. The EDGE Final is a true example of the Scottish business ecosystem at play."