Entrepreneurial Spark gets behind £1M Scottish EDGE fund

Entrepreneurial Spark, the incubator/accelerator hybrid based out of Glasgow and Ayrshire, is one of the organizations behind a new £1 million fund to support and encourage entrepreneurial activity in Scotland.

The Scottish EDGE fund is for aspiring entrepreneurs who want to start, or grow, their business. Applicants should have the potential to achieve or increase their sales by £400,000 within a 3-year period (or £200,000 if they're based in the Highlands and Islands region), and create new jobs.

Businesses that demonstrate the most potential (and meet the criteria) could win up to £50,000 in funding. They'll also get support services and mentoring from the Royal Bank of Scotland.

Applications will be accepted starting November 1st.

A number of organizations are involved with the development of the fund, including the Scottish Government, Scottish Enterprise, Highlands and Islands Enterprise, Business Gateway, Royal Bank of Scotland and Entrepreneurial Spark.

Additional competitions are in the works for 2013.

For more on Scottish EDGE, go to: www.scottish-enterprise.com/fund-your-business/Other-sources-of-funding/Scottish-EDGE.aspx

For more on Entrepreneurial Spark, go to: www.entrepreneurial-spark.com