Converge Challenge top 60 finalists announced

“This  year Converge Challenge had a real diversity of applicants with very strong  representation from all the key industries in Scotland: tourism, food and  drink, renewables, life sciences and the creative industries. There is a strong  growth in applicants using digital platforms for the delivery of technologies,  recognising the expansion of the tech sector in Scotland.”

Dr Olga Kozlova, Director of the Converge Challenge

Scotland’s leading academic initiative achieved a new record of 212 entrants in 2016 and, since its inception five years ago, has grown by over 450%. To date, Converge Challenge has supported 150 projects and 90 early stage ideas that have resulted in formation of 68 companies. These companies have secured over £28 million of funding and currently employ 140+ staff.

Dr Olga Kozlova, Director of Converge Challenge, continued:

“At Converge we provide a full package  and work with projects to develop their business plan, identify their funding  options, and understand the role of marketing and communications right down to  their own branding. We continue to see strong success rates with 70% of Converge  Challenge companies going on to secure follow on funding and an 85% survival  rate for companies after 2 years.” 

So what is up next for our finalists?

Phase2 of the Converge series - The Entrepreneurial Training Programme willtake place on May 31 - June 2 held at RBS Gogarburn for all category finalists.The successful, ‘Converge Challengers’ will also participate in the annualConverge Challenge Elevator pitch competition to a panel ofexpert judges on 2^nd June, 2016 - also as part of the EducationalJourney of an Entrepreneur event. They are competing for the chance to winthe overall top prize valued at £150,000 awarded in September – made up ofa cash prize and a broad range of expert support and training provided throughpartners and sponsors. The Ready Steady Pitch event will include keynotespeeches from SusanFouquier Regional Managing Director, Business Banking Scotland, Royal Bank of Scotland and DrDeborah Buckley-Golder, Head of Research Engagement, InnovateUK and the winner on the day wins an I-pad Air.

Then next up... allparticipants (Converge, KickStart and Social Enterprise) must use theirtraining knowledge to formulate their business plan - phase 3 of the series. The submission date is August 4th, 2016.

Converge Challenge 2016 Top 10 finalists*

Converge KickStart and Social Enterprise 2016 short list*

*These details are subject to change, based on the availability of our finalists.