Edinburgh Innovations clients have scooped the biggest awards at round 12 of Scottish EDGE, the UK’s largest entrepreneurship funding competition.
Dr Kate Cameron, founder and CEO of Cytochroma, won the Higgs EDGE prize for businesses focused on science, technology and engineering, and was awarded £150,000, the maximum possible for the Higgs prize.
Cytochroma offers a low-cost, high-speed drug toxicology testing service using stem-cell-derived liver cells.
Dr Cameron is currently a Royal Society of Edinburgh Enterprise Fellow, hosted by Edinburgh Innovations and funded by the Biotechnology and Biological Sciences Research Council.
“It is an exciting time for Cytochroma. Winning this money will enable me to build and expand my company, carry out essential validation studies and hopefully attract significant customers and investment.
“I have received incredible support and access to an array of experts at Edinburgh Innovations. The team have provided fantastic advice and helped me develop a strong business plan, which has been essential to my success.”
– Dr Kate Cameron
Dr Cameron was presented with her award by Founder, Chairman and CEO of Clyde Blowers, Jim McColl.
Announcing the award, Scottish EDGE CEO Evelyn McDonald said: “Cytochroma impressed the judging panel with their market knowledge, the advisory team they have established and the entrepreneurial leader. Cytochroma’s ground-breaking liver-based stem cell process has the opportunity to be transformational in medical research.”
Douglas Martin, founder of MiAlgae, took the top prize in the main Scottish EDGE competition, with an award of £100,000.
MiAlgae uses the co-products of the whisky industry to produce omega-3-rich microalgae that promises to revolutionise the animal and fish feed sectors. Martin has been supported by LAUNCH.ed since 2016 when he was studying for an MSc in Biology and Biotechnology.
Martin was presented with his award by Cabinet Secretary for Culture, Tourism and External Affairs Fiona Hyslop MSP.
MiAglae recently attracted seed investment of £500,000, and was recently named Shell LiveWIRE Young Entrepreneur of the Year.
Two further LAUNCH.ed clients were successful in the awards.
Inrobin, a data-driven insurance platform for industrial assets founded by School of Law PhD student Josep Guerra, won £10,000 in the Wild Card EDGE competition.
The Turing Trust, a social enterprise that supplies refurbished IT equipment and training to schools in sub-Saharan Africa, received a £10,000 award in the Young EDGE category. The trust was established by International Development PhD student James Turing, the great-nephew of renowned computer scientist Alan Turing.