Converge unveils record prize pot and significant new partnerships

Academic enterprise programme Converge has today announced its largest-ever annual awards package totalling more than £400,000, marking a strategic shift to support a broader spectrum of university innovation for academic entrepreneurs across all sectors.

The record-breaking prize pot includes £305,000 in equity-free cash awards and over £100,000 of in-kind business support. This expansion follows a new strategic partnership with international enterprise development organisation Challenges Group, which joins Converge as Strategic Partner for Impact in a three-year collaboration. The partnership aims to grow Scotland’s pipeline of early-stage businesses tackling social and environmental challenges.

This year’s programme features an expanded range of opportunities, with prize offerings nearly doubling from 12 in 2024 to 21 for 2025, reflecting Converge’s commitment to supporting innovation across an increasingly diverse range of sectors.

The expanded portfolio includes two new specialist awards from The Data Lab, Scotland’s innovation centre for data science and AI. These strategic investments – a £20,000 award to accelerate market-ready innovations and a £5,000 prize to nurture emerging ideas – strengthen support for entrepreneurs at different stages of their development journey.

Adam Kosterka, who took over as Executive Director of Converge in December 2024, said: “This significant expansion in both funding and partnerships marks a transformative moment for academic entrepreneurship in Scotland. Through collaborations with organisations like Challenges Group and The Data Lab, we’re creating unprecedented opportunities across our university sector. By bringing together expertise in social impact, data science, creative industries and more, we’re building a comprehensive support system for academic founders. This enables us to empower even more researchers, creators, and inventors to develop sustainable, impactful businesses that can compete on a global stage.”

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.”

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.”

Converge has trained more than 800 academic entrepreneurs and supported the creation of over 425 companies since 2011. Working in partnership with all of Scotland’s universities, it provides specialised support for academic founders looking to transform innovative ideas into commercially viable businesses. Companies supported by the programme enjoy an above-average three-year survival rate of over 80% (as of June 2024).

Successful applicants to the 2025 programme will embark on a transformative journey to bring their innovations to life through intensive business training, one-to-one guidance, and valuable networking opportunities. Converge aims to attract 100 of Scotland’s most promising university innovators to this year’s expanded programme.

Applications for the 2025 programme close on April 2nd. For more information, visit www.convergechallenge.com