A programme designed to help technology startups access funding has revealed its 2022 cohort of high growth tech businesses.
The Engage Invest Exploit (EIE) ‘investor readiness programme’, which is delivered by the Bayes Centre at the University of Edinburgh and is supported by the Scottish Government, will bring 36 companies together this year.
The scheme culminates at the EIE Showcase Conference on Thursday 6 October, where businesses pitch for seed to Series A plus investment to domestic and international investors.
Research from UK analytics group Beauhurst recently identified that EIE has helped over 540 companies raise more than £1.1 billion since the investor readiness programme was launched in 2008.
Karen Wood, director of enterprise at the Bayes Centre, said: “We plan for EIE to be even bigger and better this year, through a mix of in-person and online events. EIE is an integral part of Scotland’s technology ecosystem, driving our International Market Square offering, and we remain on a mission to connect investors from across the world with our transformational companies in 2022.”
The full list of companies selected for EIE22 are Alta IP, BabyReady Finance, Bennu.ai, Beringar, Bioliberty, Continulus, CyberShell Solutions, Danu Robotics, DustiD, eMoodie, Energy Mutual, FC Laboratories, FittyAI, Indigo.ai, Infix Support, Lenz Labs, METERology, MI:RNA, Microplate Dx, Ocean Biofuels, Pillow Partners, Planetary Ai, Pogo Studio, Rigpa, Robotics Cats, Roslin Technologies, Rostra Therapeutics, Scrapp, Securium, smash, SmpliCare, Stamp Free, Therma FY, TrackMyGym, ULab Equipment, and Vahanomy.
Energy, climate and clean tech is one of the most represented sectors in 2022, alongside companies specialising in artificial intelligence (AI) and data science. The list also features healthcare technology and fintech businesses.
While the majority of this year’s companies are based in Scotland, there are also startups from other parts of the UK, including London and Manchester, and international locations like Hong Kong and Lithuania.
Danny Helson, head of EIE Programme and Investor Relations, said: “Leading edge innovation runs through our company cohort again in 2022, from sectors of our digital economy that are now established as having globally leading credentials, and we look forward to working with their diverse teams in the run-up to the investor conference on 6th October.”
EIE has also announced its partnership with The Earthshot Prize and become an ‘official nominator’ for the global environment awards initiative created by The Royal Foundation of The Duke and Duchess of Cambridge.
So far, EIE has nominated seven companies, including from its alumni network, for the £1 million prize to be won in each of the five Earthshot categories.
Wood added: “We’re inspired to be partnering with Earthshot, it’s such an incredible initiative, designed to have global impact, and we think we have some really strong candidates among the EIE network.”
EIE alumni companies include FanDuel, Celtic Renewables, Amiqus, Sunamp, Novosound, and Pure LiFi. In November 2021, another alumnus, agritech business Intelligent Growth Solutions (IGS), announced a £42.2 million funding round at Cop26 in Glasgow.
The previous month, in October, US consumer electronics group Best Buy acquired another EIE alumnus company, Current Health, for $400 million (£306m).
The team plans to make an imminent announcement about an EIE London event in the heart of the City of London – with the EIE team having held satellite events in London, Hong Kong, and China in recent years.
The University of Edinburgh’s Bayes Centre is a world-leading centre of deep tech, artificial intelligence, robotics, and data science, and one of five Data-Driven Innovation (DDI) hubs supported by the £1.3 billion Edinburgh and South East Scotland City Region Deal.
