A total of 28 participants will receive up to $12,650 of capital to support business proposals in spaces including healthcare, fintech, fashion and retail.
Robert Gordon University (RGU) has formally selected 28 startup teams for the first edition of its industry-agnostic startup accelerator, with each team set to receive up to £10,000 ($12,650) in funding.
RGU Startup Accelerator, described as the first of its type in northeast Scotland, will also provide participants with training and mentoring in the hope of fostering startups that in turn support regional economic development.
The 28 teams have been whittled down from more than 160 applicants, 103 of which had progressed to the main competition phase to put their ideas to a judging panel of 40 experts.
The accelerator is funded by philanthropic family office Wood Foundation and will operate from RGU’s new Innovation Station in the Sir Ian Wood Building, and its recently announced One Digital Entrepreneurship Hub at the Schoolhill building.
RGU announced the accelerator in May 2018 and plans to accept at least 25 projects each year. The program is open to teams featuring at least one undergraduate, post-graduate or doctoral student enrolled at either RGU or North East Scotland College.
The first cohort’s participants have not been named but RGU said it included proposals for industries including healthcare, digital media, edtech, fintech, energy, food, fashion, textiles and retail.
In addition to physical products, the proposals focus on sustainable manufacturing, autonomous vehicles, software, mobile health services, virtual environments, blockchains and other digital platforms.
Gordon McConnell, vice-principal of commercial and regional innovation, said: “The teams have been chosen through a rigorous judging process. Now the real hard work begins as the teams go into an intensive mentor-led accelerator process designed to help them develop their value proposition and lead to the establishment of operational companies.”
