Young Scottish entrepreneurs preparing to hit the accelerator on Dundee’s future business
Rainbow pants, an app to help students manage their time, and a DNA test for failed IVF attempts are among big ideas on show, writes Angus Howarth
Some of Scotland’s brightest budding entrepreneurs have pitched their new business ideas, as the third group of entrepreneurs ‘graduated’ from Elevator’s Accelerator programme in Dundee.
Participants representing 10 companies demonstrated their innovative ideas to an audience of potential investors, mentors and other partners at the University of Dundee.
In a UK first, it was the inaugural business accelerator programme specifically for university and college students, staff and recent graduates.
A joint initiative from Elevator and the University of Dundee, the summer programme was open to those attending, working at or who have recently graduated from local higher and further education institutions. Participants included students, graduates and staff from both Abertay and Dundee Universities and Dundee and Angus College.
The past 12 weeks has seen them working with the team at Elevator’s Centre of Entrepreneurship to research the marketplace, explore different business models, identify new opportunities and plan for investment, scale and growth.
First launched in Aberdeen in 2015, the Accelerator programme is for ambitious, innovation-driven businesses, founders and teams who want to improve their business offering, drive growth and explore investment potential. A total of 42 businesses have so far come through the Dundee programme.
The third Dundee cohort of businesses included the world’s first DNA test for failed IVF attempts; social media content creation; an online platform for motoring enthusiasts; an app to help students manage their time; technology which converts MRI scans into 3D models to allow them to be read more easily; ethical performance-based bath products; pants for the LGBT community; a company unlocking the potential uses of public data; a cocktail shaker which can reveal a logo; and an app-based solution for synchronised swimming coaching.
Andy Campbell, Accelerator manager in Dundee, said: “The Accelerator programme is a challenging process where we encourage the founders to carry out detailed market research and make sure their concept is developed in line with market demands.
“One of the positive things that has come from our fantastic relationship with the University of Dundee is the promotion and encouragement of entrepreneurship. They are prepping students to think about being an employer rather than an employee. Congratulations to the founders, who have all been on an incredible personal journey. Their confidence and experience has grown considerably over the past 12 weeks, thanks to the support of our team of mentors, partners and agitators, who challenge and help them to realise their potential.”
Deborah Breen heard about Elevator while studying textiles part-time at Dundee and Angus College. She is the founder of Wilde Mode, which will sell rainbow coloured Pride Pants aimed at the LGBT community.
She said: “I didn’t know what to expect but over the last 12 weeks I have really learned who I am. I have learned the confidence to talk to others and have been reassured that my ideas are good.
“The Elevator team believed in me from the start and that made me believe in myself. They have been a rock and have supported my personal journey. I did a lot of market research and asked people how their underwear makes them feel, so my hope is that my Pride Pants™ will help to boost positive mental health among the LGBT community.”
Dr Doug Lester and Dr Sean Brown set up Fertility Genomics, which aims to offer the world’s first DNA test for failed IVF attempts. Both work at the University of Abertay, where Dr Brown has carried out five years of academic research into the pathophysiology of human sperm. The duo are now seeking seed capital to help with the cost of setting up a dedicated laboratory and marketing.
Dr Lester said: “The Accelerator programme was life changing and it has completely changed my outlook. As an academic for 36 years this was an introduction to the world of business and we have learned how a business is structured, as well as the need to keep evolving and embrace changes in technology.”
Stewart Carr, founder of Thermotini, graduated from the University of Dundee with a degree in product design.
He signed up for the Accelerator programme to develop his university project, a cocktail shaker which uses thermochromic ink, which responds to temperature, to alter its appearance and reveal a brand name or logo.
“I had worked on the product idea at university but after 12 weeks with Elevator I can now confidently speak about the product and my sales pitch is so much improved. I have made connections and developed my business plan.”
The first Accelerator programme in Dundee started in September 2017 at the Centre of Entrepreneurship, which is the result of a unique partnership between Elevator and the University of Dundee.
Located within the university campus, the centre represents a £250,000 investment by Elevator, the university and other key partners and aims to drive innovation within businesses and commercialise new and existing technologies across sectors; including life sciences, digital media, gaming and other creative sectors.
World leading law firm Dentons, intellectual property attorneys Murgitroyd, Henderson Loggie chartered accountants, insurance broker Jelf Clark Thomson and recruitment and HR specialist Fairways have all helped to mentor the founders and share their insight and expertise.
The next Accelerator programme starts on Monday, September 17.