EQUITY Gap has become the first angel group in Scotland to make a Scottish EDGE Pledge, marking the initiative’s 200th pledgee.
Equity Gap members have invested over £16m in 22 Scottish EDGE winning companies since the organisation’s inception in 2014.
These include online booking service Appointedd, microbiome therapeutics specialist Enterobiotix, zero waste Omega-3 producer MiAlgae, and digital compliance and onboarding platform Amiqus, which was founded by fellow Pledger Callum Murray.
The EDGE Pledge was launched in early 2017 with the intention of providing a platform for successful entrepreneurs to give something back to the EDGE competition from exits or a donation, and in turn support Scotland’s next great entrepreneurs.
On average, 87% of eligible winning businesses in each round of Scottish EDGE sign the pledge.
Equity Gap has committed to support the EDGE competition by inviting investor members to make a discretionary donation from any exits achieved by companies supported by Scottish EDGE.
This commitment is intended to help raise the profile of Scottish EDGE among both Equity Gap’s investors and the wider angel community in Scotland, many of whom are committed to supporting early-stage companies to help generate wider economic benefits in Scotland.
Alex Lusty, Head of Operations & Compliance at Equity Gap, said: “Equity Gap investors have long recognised the value of Scottish EDGE in identifying high potential businesses. We’ve been delighted with the quality of companies that have joined our portfolio with EDGE backing.
Many of these, including Amiqus, are continuing to scale rapidly and achieve significant commercial results in Scotland, the wider UK and overseas.
We anticipate many of our individual members will be happy to give something back to EDGE in the event of future successful exits.”
Evelyn McDonald, CEO of Scottish EDGE, said: “As a long-time champion of Scottish EDGE and our winning businesses, I am delighted to welcome Equity Gap to EDGE’s Pledger network.
“This collaboration exemplifies our shared vision for fostering innovation, driving positive change, and empowering the next generation of business leaders in Scotland.”
Callum Murray, CEO of Amiqus, said: “Scottish EDGE played a vital role in supporting Amiqus at a time when it was far from certain we’d deliver against our ambitions of scaling to become the most trusted compliance and onboarding platform in the country.?
“EDGE is central to the early stage entrepreneurial ecosystem in Scotland with exponential value created for the national economy.
“The prospect of entrepreneurship being powered by a virtuous circle of entrepreneurial pledges is such an obvious path to follow and one I’m proud to be part of.”
To date, Scottish EDGE has supported 602 businesses, awarding over £25m in grants and loans while helping to create 3500 jobs and increase turnover of awarded companies by £680m.
The latest round of Scottish EDGE, Round 23, opened on 7 February 2024 with applications being accepted until 2pm on 6 March for awards ranging from £10,000 to £100,000 for Scotland’s most innovative start-up businesses.
