The Isle of Skye Candle Company (ISCC) impressed a panel of judges to win £50,000 worth of funding at a “Dragon’s Den” style competition for Scottish start-up businesses this week.
ISCC, which recently opened its fifth scented-candle store in Scotland, was one of 14 winners in its category at the Scottish EDGE Awards.
A total of £1.25million was handed out among the various categories’ winners in the form of grants and loans.
Outgoing chief executive of the Wood Group, Bob Keiller, and refrigeration magnate Lord Willie Haughey were on the judging panel.
Aberdeen businesses EuroBiotix and Synchronise IO were among the winners in the Young EDGE category, which is for entrepreneurs under the age of 30.
EuroBiotix is developing a specialist alternative treatment for Clostridium difficile, while Synchronise IO is an all-in-one platform for software developer.
Winnings for their category were restricted to a maximum of £10,000.
ISSC owner and manager James Robertson said the business pitch was a tense affair in the face of strong competition from the other finalists.
He said the money would help ISCC realise its ambitious expansion plans.
Last month the red tape was cut at its latest store – on Buchanan Street, and plans are afoot to find bigger premises on Skye.
Mr Robertson, said: “It is an amazing feeling to have some of the top Scottish business leaders show their appreciation and confidence in our company. This funding will help us grow our business further and quicker, and will also help to create more employment opportunities in the Highlands, which has been one of our main goals from our beginning.”
He founded the company in a grass-roofed bothy on his uncle’s croft in 2007 and four years later moved the company to its current headquarters in Broadford, Skye, where production is based to this day.
Anne-Marie MacRae, business development manager at ISCC, said: “We were delighted to even make the final, but after winning an award we feel truly honoured, and couldn’t be more excited by the opportunities to come.”
Scottish EDGE chief executive officer Evelyn McDonald, said: “The final of round seven of Scottish Edge was an exceptional showcase of Scotland’s most entrepreneurial talent.
“The quality of pitching was superb and the judges had some very difficult decisions to make. For those who didn’t win this time round it’s not a no, it’s a not yet.
“We look forward to opening round eight in February when new and old applicants will be supported through the application process.”
Scottish Edge was run by Scottish Enterprise and Highlands and Islands Enterprise alongside various partners.
Last year, serial entrepreneur Sir Tom Hunter and RBS agreed to extend the success of the fund and lead its delivery, creating a £5million-plus fund along with the Scottish Government.
RBS chipped in £2.5million to the fund, while £700,000 came from the Hunter Foundation, a charity set up in 1998 by businessman Sir Tom Hunter and his wife, Marion, to support educational and entrepreneurial projects.
As well as awarding financial support, Scottish EDGE also provides mentoring and advice on other available funding options for start-ups.