An Edinburgh company which is developing and building a purpose-built online marketplace and delivery platform for local convenience stores has been awarded funding today.
Drink Tech Limited received grant funding of £49,937.
The Department for Business, Energy and Industrial Strategy (BEIS) has awarded six Scottish businesses up to £50,000 each for entrepreneurial projects. The funding is part of a £40 million package for the UK’s next generation of innovative businesses. This, in turn, is part of a larger investment package of £211 million set aside to encourage businesses to develop new technologies.
UK Government Minister for Scotland Douglas Ross said: “Scotland has a well-earned reputation for world-leading tech, innovation and entrepreneurship, so it’s no surprise that six Scottish businesses have successfully won UK Government funding from Innovate UK to deliver inspiring solutions to some of the challenges that COVID-19 has brought.
“Congratulations to Drink Tech Limited for connecting local convenience stores to consumers through their online marketplace idea and all the other recipients. I look forward to seeing how their work progresses.”
Business Secretary Alok Sharma has announced that the government will double the investment in the Fast Start competition with another £20 million.
There was a record number of applications to the fund, with over 8,600 made to the Fast Start competition which was launched in April in response to the Covid-19 outbreak. Over 800 projects will receive funding.
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