University of Strathclyde: Strathclyde Inspire-supported firms triumph in pitching competition
Six companies supported by a flagship Strathclyde initiative to help alumni, staff and students commercialise business ideas have secured combined funding of £165,000.
The firms, which have received support from Strathclyde Inspire, were successful in the latest round of the Scottish EDGE, a competition for high growth potential businesses.
The pitching competition offers funding of up to £100,000 on a split grant/ loan basis and the latest round saw a record-breaking £1.5 million invested in 42 businesses.
Strathclyde links
The companies with Strathclyde links include University cyber security start-up Lupovis, which was awarded £50,000. The firm has designed an AI-based deception solution that deploys active decoys to turn the ‘hunter’ into the hunted.
Glasgow-based Crack Map, which is developing non-contact inspection technology using Artificial Intelligence, was also awarded £40,000 as the winner of the Circular Economy Award, supported by Zero Waste Scotland.
Metacarpal, which works out of Glasgow City Innovation District, is designing and manufacturing a ‘body powered’ prosthetic arm that uses no electronics. It was rewarded with the top £15,000 prize in the Young EDGE category, for entrepreneurs under the age of 30.
Unbaggaged, which provides a mobile storage luggage service in Edinburgh, was awarded a £10,000 grant in the Young EDGE category. Start-up company Loch Electronics, which is creating a capsule dishwasher designed to use less water than washing by hand, received £40,000.
Jack’s Alt-Stays, which will provide tourist eco-cabins, was awarded £10,000.
A seventh firm, Medical technology company OrganLike, set up in 2017 by Strathclyde Professor of Biomedical Engineering Will Shu, while he was at Heriot-Watt University, and Dr Isaac Wang was also awarded £100,000 to support development of realistic models of human organs for surgical training.
Enterpreneurial talent
Dr Olga Kozlova, Director of Innovation and Industry Engagement at the University, said: “We are delighted that we have been able to support so many of the entrepreneurs who have been successful in the latest round of the Scottish EDGE.
“The total funding for Strathclyde Inspire clients from rounds 10-18 in the competition alone is almost £1.5M, which is testament to the quality of entrepreneurial talent at Strathclyde.
The University is committed to supporting entrepreneurs at every stage of their journey from a simple idea to a scaling company and helping them to deliver economic and societal impact for Scotland. We continue to work closely with our partners across the entrepreneurial ecosystem.”
Evelyn McDonald, chief executive at Scottish EDGE, said: “It has been inspiring to see the talent and passion we have among start-ups in Scotland, which was demonstrated impressively through our latest funding round.
“It is a privilege for Scottish EDGE to support such exciting Scottish entrepreneurial talent and help companies and individuals access pivotal funding to accelerate their growth and development. This in turn helps drive forward Scotland’s future economic prosperity.”