Funding and other support for start-ups is crucial for getting a business up and running with the aim of long-term growth. I was interested to read about a modern version of start-up support, offering funding in Scotcoin (a cryptocurrency), an AI course and some carbon offsetting, among other benefits of the package. The grant is provided by Scotcoin Project, a Community Interest Company that is the promotion and outreach arm of the Scotcoin cryptocurrency, and appears to be aimed at fintech companies.
It will be interesting to learn what start-ups think about packages like this versus traditional grants, particularly the cryptocurrency aspect of it.
One challenge that start-ups encounter is the need to protect their intellectual property without necessarily having the budget to maximise IP protection. For patents, including fintech inventions, there is the added pressure of needing to file a patent application before the invention is disclosed. If there are more funding packages like this to come, it would be great to see some Scot-free IP funding included!
Scottish start-ups can qualify for new grant worth £5,000 - that includes £2,000 in Scotcoin cryptocurrency. The new Scotcoin Business Support Grant is launching on 27 September at the Fintech Scotland Festival, with a package that incorporates Scotcoin, a website build, branding, marketing and print options, social media guidance, free Udemy AI course, company promotion through the Scotcoin business network, a selection of digital products, 20 tonnes of carbon offset, and an account with the BBX business network.
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