The award is just one of those forming the 23rd round of Scottish EDGE, which opens for applications on 7th February and will offer a total of £1.5 million to high-growth Scottish businesses. This latest addition will be facilitated by support from Creative UK, which champions, connects and promotes the development of creative businesses across the United Kingdom.
Scotland’s creative industry is an economic powerhouse, contributing an estimated £5 billion annually, along with a myriad of social and civic benefits. The new award will support creative organisations to be part of this growth both through the funding element and via access to the Scottish EDGE partner network of specialist service providers.
The inaugural Creative Award will aim to emulate the success of the previous Net Zero and Circular Economy awards, both of which have resulted in their respective sectors generating a significant increase in representation at the application and finalist stages.
To date, Scottish EDGE has supported 602 businesses, awarding over £25 million in grants and loans while helping to create 3500 jobs and increase turnover of awarded companies by £680 million.
Evelyn McDonald, CEO of Scottish EDGE, said:
“The introduction of the Creative Award highlights the significant contribution of this sector to the Scottish economy. With the generous support of Creative UK, this award will help to raise the profile of creative organisations and transform their imaginative and innovative ideas into reality. We’re pleased to be facilitating an award that will enable Scottish creativity to showcase itself both nationally and on the world stage”.
Tim Evans, Investment Director at Creative UK, said:
“We’re absolutely delighted to be partnering with Scottish Edge on the Creative Award. Scotland’s creative sector adds value in every sense of the word – with innovators and creators bringing exciting new ideas to life, and creative businesses driving the economy forward. Scottish Edge share our vision of further investing in the next chapter of Scotland’s successful creative enterprises, and this award is just one element of the wider support that can be provided now to further unlock the future potential of the sector.”
The latest round of Scottish EDGE, Round 23, opens on 7th February 2024 with applications being accepted until 2pm on 6th March. The live, two-day pitching final is planned for 9th and 10th May, and will take place at Edinburgh Napier University Business School and Royal Bank of Scotland Conference Centre.
Prizes ranging from £10,000 to £100,000 will be awarded to some of Scotland’s most innovative startup businesses at an awards ceremony following the pitching days.