Late payments cost UK SMEs £22k/year and contribute to 50,000 closures annually. To tackle this, the Digital Trust Centre of Excellence is looking for startups that will solve the SME cash flow crisis with their Future Payments Challenge.
Start-ups and early-stage SMEs are invited to apply for the Challenge which offers tailored support and up to £50K incubation funding – to build a unified digital procurement-to-pay service using future payment technologies.
WHAT’S ON OFFER
- Up to £50K funding
- Access world-class research via Edinburgh, Glasgow & Napier University
- Incubation programme to refine your product with industry experts
- 3-month funded development phase
- Network access through our founding partners FinTech Scotland, Scottish Enterprise and deep finance sector connections
WHO SHOULD APPLY
Startups and early-stage SMEs at TRL 3-4 building solutions that streamline B2B procurement, automate payments, accelerate settlement. You should be committed to advance your solution to TRL 5 through a funded 3-month Development Phase.
TIMELINE
- Application window open: 17 Feb – 15 March
- In-person workshops in Edinburgh: late April – early May
- Final pitch in Edinburgh: late May – early June
- Funded development: June – Sept
Closes 15th March – find out more and register here.