SCOTLAND’S high-profile competition to identify and nurture the country’s up-and-coming entrepreneurs – Scottish EDGE – is launching a new initiative to enable previous winners to support the next generation by giving something back.

The EDGE Pledge will see business owners make an agreement to contribute a minimum of one per cent from exits or future revenue streams to help back the entrepreneurs of the future through the Scottish EDGE programme.

Sir Tom Hunter, an investor in Scottish EDGE and founder of The Hunter Foundation, described the move as “a fundamental step forward in the mindset of Scotland’s entrepreneurs, underpinning the culture of giving back with purpose – in this case supporting the next generation of entrepreneurs by sharing in their own success”.

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He said: “This is creating a virtuous circle where success supports success, entrepreneurs help one another and ultimately Scotland wins out.”

Among the first Scottish EDGE-backed company founders to sign up to the EDGE Pledge are Michael Corrigan and David Kellock of travel pillow firm Trtl who said that Scottish EDGE came along at a time when his business needed funding to “scale a proven concept”. Mr Corrigan, managing director, said: “It allowed us to place our first order with a mass manufacturer and gave us the freedom to grow the business the way we wanted to.”

Others include Calum Smeaton of TVSquared, Lynn Mann of Supernature Oils, Callum Murray of Amiqus, Matt Stevenson of Carbon Dynamic, Tanya Ewing of Glaze & Save, Martin Murray of Rock Rose Gin; Jo Chidley of Beauty Kitchen, James Brown of Beer 52, Garry Stewart of Spyglass Innovations, Graeme Lindsay of Uisage Source, and Darina Garland and Kristian Tapaninaho of Uuni.

Evelyn McDonald, chief executive of Scottish EDGE, said: “Scotland is building one of the most exciting start-up ecosystems in the world and what founders are telling us is that they want to find more ways in which to give back to the community that supported their own growth and success.”

Scottish EDGE has so far made 262 awards totalling more than £8 million, boosting turnover of awardee companies by £45m and helping to secure an additional £44m in investment.

Round 10, which will see £1.3m in grant and loan funding awarded to 40 Scottish start-ups, takes place next week.