Converge unveils record prize pot & new partnerships

New collaborations unlock enhanced support for early-stage academic entrepreneurs

Converge has unveiled its largest-ever awards package totalling more than £400,000, significantly expanding opportunities for university innovators to transform their ideas into thriving businesses. 

The record-breaking prize pot includes £305,000 in equity-free cash awards and over £100,000 of in-kind business support, and features an expanded suite of awards designed to support innovation at every stage of development. This transformative growth sees Converge nearly double its prize offerings from 12 to 21, bringing together expertise from across the innovation landscape through strengthened partnerships and new collaborative initiatives.

“This major expansion of our prize portfolio marks a pivotal moment for academic entrepreneurship in Scotland,” said Adam Kosterka, Executive Director of Converge. “By significantly increasing both our funding and range of awards, we’re creating opportunities for innovators from every corner of academia – whether they’re developing healthcare solutions, pioneering creative projects, exploring AI applications, or building social enterprises. 

“This enhanced support system will help even more researchers, creators, and inventors to transform their ideas into sustainable, impactful businesses that can compete on a global stage. With applications open until April 2nd, we’re looking for Scotland’s most promising university innovators to join our next cohort of academic entrepreneurs.”

A key element of 2025’s expansion is a new strategic partnership with international enterprise development organisation Challenges Group, which will enhance support for early-stage businesses tackling social and environmental challenges.

Eoghan Mackie, Chief Executive of the Challenges Group, said: “We are delighted to be Converge’s Strategic Partner for Impact, supporting Scotland’s next generation of purpose-driven entrepreneurs. At The Ventures Lab, delivered by Challenges Group, we believe in the power of mission-led businesses to drive real change, and this partnership strengthens our commitment to building a thriving ecosystem for social and environmental innovation. 

“Through tailored support, mentorship, and investment opportunities and backed by the Scottish Government, we look forward to supporting innovators to turn their ideas into sustainable, impactful businesses.”

Additionally, The Data Lab, Scotland’s innovation centre for data science and AI, has strengthened its partnership with Converge through two new specialist awards. These include a £20,000 award to accelerate market-ready innovations and a £5,000 prize to support emerging ideas in the data science and AI space.

“There are tremendous opportunities in the academic sector to drive forward innovative data science and AI solutions,” said Mark Wilkinson, Director of Partnerships and Business Development at The Data Lab. “We are thrilled to deepen our partnership with Converge and nurture new talent through these awards empowering the brightest minds in academia to turn groundbreaking ideas into impactful ventures. Together, we’re not only supporting individual growth but also enhancing Scotland’s position as a leader in technological innovation.”

Successful applicants to the 2025 programme will join a diverse cohort of university innovators embarking on a transformative journey. The comprehensive support package includes:

• Intensive business training tailored for academic entrepreneurs
• One-to-one guidance from industry experts
• Valuable networking opportunities
• Access to professional partners
• Equity-free funding

Since 2011, Converge has trained more than 800 academic entrepreneurs and supported the creation of over 425 companies, which maintain an impressive three-year survival rate of over 80%. This track record of success demonstrates the programme’s effectiveness in turning innovative ideas into commercially viable businesses.

Deputy First Minister, Kate Forbes, said: “I am pleased Converge has secured a record awards package for 2025. This will boost the existing support available to entrepreneurs and innovators across Scotland’s universities.  

“I value the role Converge plays in supporting the development of new and innovative businesses which is central to growing the economy. In the Scottish Budget, we’ve allocated £15 million to an expanded enterprise package, driving our mission to make Scotland a leading start-up nation.”

Don’t miss this opportunity to be part of Scotland’s next generation of founders. Applications close on April 2nd, 2025. Visit www.convergechallenge.com to learn more and start your application today.

This year’s cash prize offerings in full: