DDE Beacon Post-Covid Graduate Enterprise Grant
Are you an alumni of the University of Edinburgh, within 2 years of graduation? Would you be interested in a £5,000 grant to help you quickly bring forward a Data-Driven Innovative enterprise idea? If so, please apply below. Note that you will need to recall your University of Edinburgh UUN and password. If you are unable to recall them, please scroll to the bottom of this form and register as an external applicant and make sure to provide information on your course name completed and graduation date.
Funded by the Scottish Funding Council through the new Data Driven Innovation (DDI) project, the Post Covid Graduate Enterprise Allowance is a discretionary sum of up to £5,000 which may be awarded to individuals who graduated from Edinburgh University within the last 2 years. The graduates must have a Data Driven Innovative business idea in any market sector which can potentially solve a problem, create a new company and contribute to our economic recovery post Covid-19.
These allowances are intended to support a range of research and commercial activities to enable early stage technology focussed individuals/companies to develop their business idea/concept to the next stage of product development, form a company and ultimately to become income-generating and/or in a position to secure further funding or investment from other public or private sources.
The £5,000 funding could support a range of activities including salaries, market research, technical feasibility and early-stage prototyping between now and July 2021. £4,000 would be paid to the individual within 2 weeks of the grant being approved and the final £1,000 paid by the end of June 2021 conditional on receipt of a short report from the applicant on the £4,000 spend and the outcomes achieved to date.
Examples of eligible expenditure would include: development of marketing materials, website design and development, access to labs or facilities for product testing, legal fees for agreements related to product testing and trialling, material costs associated with prototyping/product development and Intellectual Property costs to protect the new idea.
Under no circumstances will grants be awarded for costs already incurred.
Eligible applicants would:
· Have graduated in the last 2 years from Edinburgh University and have either been made redundant or been unable to find employment and are not currently employed full time. ( Part time employed graduates will be considered).
· Have a Data Driven Innovative business idea (using data and/or digital technology) in any market sector which can potentially solve a problem which is either A) related to the Covid 19 pandemic or B) that can contribute to the region’s social and business economic recovery.
· Plan to form a company within 3 months of receiving the grant and have a basic business plan in order to do this. Support will be given to develop the business model and plan.
· Have the right to work in the UK and a UK bank account.
This is a discretionary award and Edinburgh Innovations (EI) reserves the right to decline funding at any point in the application process.
Conditions of funding:
Please allow a minimum of 2 weeks after submission for your application to be considered. Successful applicants will be required to keep a record of expenditure and be prepared to produce evidence at the request of Edinburgh Innovations or the University of Edinburgh. Successful applicants will also be required to attend no less than two follow on meetings with an advisor to discuss progress.
Note that you will need to recall your University of Edinburgh UUN and password. If you are unable to recall them, please scroll to the bottom of this form and register as an external applicant and make sure to provide information on your course name completed and graduation date.
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