Edinburgh based company FutureX have announced a new international competition for ‘purpose-driven’ businesses.

The Impact Summit competition aims to showcase and support entrepreneurs that are “changing the world for the better”, with a focus on start-ups that are making a positive impact on the people, communities or environment around them.

The final of the competition will take place at FutureX’s Impact Summit on 19th & 20th May, where entrants will pitch virtually in front of over 1,000 attendees.

The competition's top prize is a business support package of over £20,000, including a free place on FutureX’s Silicon Valley Programme and an advertising package from The Herald. 

Each year, FutureX accepts a cohort of rising tech leaders on their Silicon Valley Programme, where they are given the opportunity to connect with some of the global players in the tech industry and pitch to potential investors.

In previous years, delegates have met with leaders from brands including Google and Facebook and investors including DFJ Ventures, Y-Combinator, Silicon Valley Bank and Rocketspace. Alumni from the Silicon Valley programme have gone on to raise over £40M in investment.

Zoi Kantounatou, Co-founder and CFO of FutureX, said: "The movement of social, sustainable and ethical businesses is an unstoppable force that is growing with pace every year.

"The Impact Summit competition is an opportunity for us to shine the spotlight on entrepreneurs from across the world who are tackling global challenges head on.”

Applications to the Impact Summit competition are now open, and will close on March 14th.