A diabetes management platform, a floatation aid, and an alternative to popcorn are amongst the companies vying for a top entrepreneurial award.
Converge Challenge 2017, Scotland’s leading company creation competition and entrepreneurial development programme for staff, students, and recent graduates of Scottish Universities and Research Institutes have revealed this year’s top 60 ‘Converge Challengers’. And there has been an increase in the number of female finalists which now account for 43% of the Challengers.
The three Converge Challenge award categories are:
Business products or services, from any industry sector, at any stage are eligible. The Converge Challenge category is highly competitive this year with 9 industry sectors represented and business ideas including:
New for 2017 is a partnership that will benefit the top 30 Converge Challenge Life Science and MedTech participants. A number of the participants will have the chance to take part in a MediCity bespoke 3-day programme of sector specific support between the end of June and the business plan submission deadline in August.
Commenting on the finalists, Dr Olga Kozlova, Director of Converge Challenge, said: “Every year the Converge Challenge competition gets stronger and this year looks like being the most competitive yet. Participants have put a lot of effort into describing their markets and customer interactions rather than focus on technology development. There is a strong ethical focus in many applications aiming to improve quality of life through innovations targeting 9 sectors of the Scottish Economy.”
The 2017 Converge Challenge is already the most successful yet with 212 entries from 19 institutions, which have been shortlisted down to 60 finalists. The joint winner of Converge Challenge 2016, MindMate, led by Susanne Mitschke of University of Glasgow, has since had a great success with their assistance platform for people with dementia, their caregivers and family members.
Susanne said: “Our Converge prize has made a meaningful difference; not only from a cash-perspective, but from the in-kind business services we’ve received.”
The Converge Challenge team were particularly gratified to see 5 applicants who were in the KickStart category in 2016 moving through to the Top 30 in 2017 in the main Converge Challenge category. This shows that they have taken the learnings from the process back to their Higher Education Institutes and have built on them, developing their business propositions to a very high standard.
The KickStart projects are also from a wide range of sectors and, like the Converge Challengers, have raised the bar in the quality and depth of their entries. Examples of competing business ideas include:-
The shortlisted Social Enterprise projects are businesses which have a social or environmental mission and are competing for a comprehensive package of benefits including cash prizes, in-kind business support prizes, entrepreneurial training, 1-2-1 mentorship, all geared to making them a successful, sustainable business.
The Social Enterprise participants are focused on delivering their social missions, which include:
Now in phase 2 of the process the 60 ‘Converge Challengers’ are set to take on an intensive entrepreneurial training and development programme, provided by Converge Challenge.
It culminates in the Ready, Steady, Pitch! event at the Royal Bank of Scotland Gogarburn specifically for the Converge Challenge category finalists on June 1st 2017.