Young Scots get funding boost to grow their start-ups » SMEInsider

Young Scots get funding boost to grow their start-ups

Student entrepreneurs from across Scotland have been awarded more than £20,000 to help them develop their fledgling businesses.

The annual Student Enterprise Summit, hosted by the Scottish Institute for Enterprise (SIE) at Edinburgh’s Assembly Rooms, saw start-ups pitch their business ideas to a Dragons’ Den-style panel.

Thirty entrepreneurs were chosen to pitch from 350 entries, with eight awarded a monetary prize in SIE’s student enterprise competitions, Fresh Ideas and New Ventures.


Wi-Fi flies high

The top prize of £10,000, sponsored by Bank of Scotland, was awarded to Strathclyde University business enterprise and marketing graduate, Paul McGinley, for his idea Pyramid Wi-Fi.

Pyramid is a pocket-sized Wi-Fi box that unlocks internet connections, meaning users can access sites that limit access based on location.

McGinley said: “I couldn’t believe it when Pyramid was announced as the winning idea.

“It’s great to receive recognition from such a well-respected competition within the start-up scene. The prize money will be a great help towards launching Pyramid.”


The future of Scotland’s success

Fiona Godsman, chief executive of event organisers SIE, added: “The Student Enterprise Summit is a fantastic opportunity for young people across the country to meet like-minded people and to hear the inspirational stories of successful Scottish business figures and learn how an idea can grow into a success.

“It was a great event, celebrating strong, unique business ideas and we hope ambitious students have learned how they can develop their own enterprise skills. These skills are so important in today’s competitive landscape for boosting employability, fostering innovation and bringing value to organisations.”