Edinburgh scheme looking to fund 12 entrepreneurs

Funding opportunity

The Edinburgh Pre-Incubator Scheme (EPIS) is looking for entrepreneurs from around the world to embark on an intensive 12-month programme of commercial development.

EPIS was established four years ago, with backing from the inward investment agency Scottish Enterprise, to open up university resources to foster start-up company development. The companies supported to date now have a combined annual turnover of around £2.4 million.

Adrian Smith, programme director at EPIS, said, “Of the £5.97 million total investment in EPIS companies since the programme launched, [...] £4.12 million has come from private equity funding and £790,000 from private debt.” Over 90 per cent of the participants have set up a viable trading company within a year of starting the programme.

Derek Waddell, Managing Director of Edinburgh Research and Innovation, Edinburgh University’s research and commercialisation office, said EPIS companies have invested a total of £2.6 million in R&D.

The EPIS package includes incubator accommodation, an interest-free loan of £10,000 and access to Edinburgh University’s resources, including high-contact mentoring from academic and commercial advisers. The current round is limited to 12 places. EPIS is modelled on a similar scheme at the University of Twente in the Netherlands.  

EPIS is open to graduates from any university in the world and offers hosting for 12 months in a relevant university department; an academic technical mentor to help shape the technical elements of the idea, a business mentor to help build the business model; a programme manager to organise placement and development of the entrepreneurs, a loan of up to £10,000; the option to locate any start-up business in the university’s incubator, and introduction to funders and professional advisors.

For details of how to apply, visit the EPIS website: http://www.epis.org.uk/Howtoapply/tabid/57/Default.aspx