This year, Scottish Edge will launch the STV Growth Edge Award, which will be open to consumer-facing businesses in two rounds of funding. They comprise round 16 – the first of 2020 that opens today and closes 27 February – and round 17 later in the year.
STV said that this year it will gift two competition winners £75,000 of airtime and a launch commercial to help grow their businesses, as well as £100,000 worth of airtime to Scottish Edge to further drive awareness of the competition.
In addition to the £75,000 advertising package, the winner will attend a bespoke STV Growth Academy Masterclass at STV studios in Glasgow. “Harnessing STV’s wealth of experience in media planning, creative brand development, consumer insight and driving a return on investment, the finalists will also be able to access support and advice on effective marketing, communications and lead generation to support their ongoing business ambitions,” the two organisations said.
The investment from STV is part of its growth fund, which launched in 2018 and was set up to support small and medium-sized enterprises and help boost the Scottish economy. To date, STV has awarded about £9m across 341 deals.
Meanwhile, Scottish Edge has given out more than £15m to nearly 400 up-and-coming, innovative, high-growth potential entrepreneurial businesses.
STV boss Simon Pitts said: “I’m continually impressed by the wealth of entrepreneurial talent in Scotland and I look forward to working with Scottish Edge to learn more about the innovative new firms about to set the Scottish business world on fire… we look forward to building a relationship with the winning businesses to help supercharge their growth.”
Scottish Edge chief executive Evelyn McDonald said: “One of the key areas we often see our winners invest in is marketing and advertising, so launching Round 16 of the competition with the announcement of the new STV Growth Edge Award really has been an exceptional way to start what we hope to be another strong year both for Edge and the businesses we’ll go on to support.
"I have no doubt that this new partnership signifies a significant step in achieving our joint vision of building a stronger economy for Scotland and I am confident of its lasting impact both on Edge and our winners.”