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Enterprise Fund Invites New Sponsorship to Drive Future Growth
With applications to the 11th round of the Enterprise Fund closing shortly, young entrepreneurs at Queen Margaret University, Edinburgh College and other independent sources are preparing their innovative business proposals.
Following an initial screening and assessment, selected entrepreneurs will pitch their ideas at Merchants’ Den on Thursday 28th May, hosted in the Court Room at The Merchants’ Hall.
Launched in 2017, thanks to the support of many Company Members, the Enterprise Fund has achieved what it was set up to do. Protecting and growing the capital whilst also helping young entrepreneurs onto the bottom rungs of the business ladder. In the 10 rounds to date, the fund has had 52 applications, subjected 42 of them to the gauntlet of Merchants Den, and awarded 25 non-repayable grants totalling £51,960. This, coupled with mentoring from Company Members, has given a huge boost to these fledgling businesses. Continued and significant support from an annual donor has and will allow this good work to continue.
However, as described at the Company Stated Meeting on Thursday, 26th March, the Trustees feel the fund has reached a watershed, and it is time to take the Fund to the next step. Their vision is to create a substantial fund that will, in the long-term, create a third leg of business for The Company. One that is equal to the Company’s existing charitable endeavours of education and care of the elderly.
The Trustees believe that despite the huge progress made to date, the only way real change can be achieved is through a new corporate sponsorship or partnership that offers both physical and financial support. Company Members are warmly encouraged to assist in this area by offering introductions or expressions of interest where possible.
Please direct any such enquiries to Ian Watson or Ken Ramage.