Converge Challenge

www.convergechallenge.com

Creating Entrepreneurs

About

Converge Challenge is a high profile pan-Scotland business competition and entrepreneurship development programme for staff, students, and recent graduates of Scottish Universities and Research Institutes aimed at creating a new generation of entrepreneurs in Scotland. We work with any industry sector, product or service-based ideas at any stage of the development.

The long term goal of the Converge Challenge is to provide students and staff of all Scottish universities and research institutes with practical commercial skills enabling them to bring to market novel products and services, thus creating sustainable profitable companies and helping Scotland grow as a CAN Do competitive economy.

Developing intrapreneurial and entrepreneurial skills within the Higher Education Sector is the driving force behind the competition. Converge exists as a pathway for university entrepreneurs, meaning that the innovators of the future receive the right support at the right time to ensure profitable businesses for Scotland. 

Converge Challenge 2017 is open from February 7th - 10th April via www.convergechallenge.com

Key Facts

  • Converge Challenge is focused on developing the entrepreneurial skills of students and staff through rigorous engagement over an 18 month period during which participants receive training, coaching and one-to-one mentoring as well as a total prize pot of over £150,000.
  • There are three categories – Converge Challenge, KickStart and Social Enterprise.
  • Converge Challenge has three key events: The Launch, Elevator Pitch and Awards Dinner, which are attended by a high profile external audience that includes representatives from industry, press, investment firms, governmental organisations and higher education institutions. We open early February and the programme year culminates at the end of September.
  • Our participants are generally companies with significant growth potential and are some of the most exciting, innovative projects coming out of the Scottish research base and with one of the key initiatives within Scotland's entrepreneurial community.
  • Since 2011, the Converge Challenge programme has attracted 700 applications, has delivered residential training to 150 company founders and 90 early stage ideas and has awarded cash prizes to representatives of 14 Scottish Universities.
  • Former Converge participants have jointly formed 62 companies with 41% incorporation rate and over 80% surviving beyond three years.
  • Two thirds of the companies formed are technology with high growth potential for global training. The sectors cover Life Sciences, Energy and Renewables, ICT, Financial Services, Construction, Fashion, Wearable Devices and Apps.
  • Year on year growth in applications continues to be strong and in 2016 the programme engaged with a record 17 Universities and Research Institutes across Scotland.
  • Jointly the companies formed within Converge Challenge have raised over £37 million of funding through grants, investment and sales and they employ 158 staff.

Contact/Follow

@ConvergeC

facebook.com/ConvergeC

https://www.linkedin.com/groups/414331

Telephone 0131 451 8426

 

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