The pre-scaler programme launched by the Hunter Foundation and Scottish EDGE has seen such demand that two cohort programmes will now be run, as opposed to the one originally envisaged.
This means 40 companies from across Scotland, split into two cohorts, will now participate in the innovative programme, wholly funded by the foundation, that will see entrepreneurs go through a combination of an online and in-person development.
The programme will kick off with a core module on fundraising, valuation and cost of capital, then complemented with modules on people planning, leadership, sales and marketing. Board and governance training will be delivered by established ScaleUp programme partners, including David Sole’s School for CEOs.
Sir Tom Hunter explained: “When we launched this we did wonder if a gap existed in provision in support of potentially scaling early stage businesses - and we got the answer.
“Scaling businesses move the economic dial and the fact our judges deem forty companies with that potential is incredibly positive for Scotland.
“Indeed, those that didn’t qualify this time were either too early stage or pre revenue, but showed real promise and we hope to welcome them back in future.”
Judging applications, Ana Stewart, partner at EOS Advisory, commented: “The quality and depth of ideas from these businesses was very impressive and we see real potential for many of them to go to scale.
“As highlighted in my recent independent report, we must create clear pathways that connect the dots for our early stage entrepreneurs to help them navigate through their journey to growth and this pre-scaler programme does just that.
“Also, I’m delighted to see that 35% of applications were from female-led entrepreneurial businesses, with 50% qualifying for the programme.”
Evelyn McDonald, chief executive of Scottish EDGE, added: “I was delighted to see around 50% of the applications came from Scottish EDGE winners looking to take the next step forward in their business journey.
“Being an entrepreneur is often a lonely business and core to this programme will be peer-to-peer learning and support, precisely what’s often needed for businesses on a growth trajectory.”
Originally up to 20 pre-scaling businesses were to be selected for the first cohort by four judges: Ana Stewart, Evelyn McDonald, Chris van der Kuyl, principal of Chroma Ventures, and Ewan Hunter, chief executive of the foundation.
Participating entrepreneurs can expect to commit up to five days in total to the programme starting in May this year and concluding in September, where they will have the option to pitch to a panel of potential investors.
Among the 40 entrepreneurs are:
- Anne Widdop – The VR Hive, Arisaig in Lochaber, which delivers immersive learning experiences and therapeutic resources by harnessing extended reality, gamification and AI.
- Dr. Taner Dosluoglu – weeteq, Glasgow, a 'tiny' embedded technology company providing industrial solutions.
- Karen Robinson – Three Robins, Edinburgh, which makes oat milk products.
- Gavin Bell – Yatter, Kinross/Edinburgh, which helps businesses scale with pay-per-click advertising campaigns.
Don't miss the latest headlines with our twice-daily newsletter - sign up here for free.
