Economic Impact of Converge

Converge is a programme that provides a range of support to staff, students and recent graduates in Scotland who are developing a new business idea. In 2020 BiGGAR Economics was commissioned to assess its economic impact.

The study considered the impact associated with participants in Converge, which has been running since 2011. It found that businesses that have taken part in Converge had a combined economic impact of £21.5 million Gross Value Added (GVA) and 524 jobs. They had also secured external funding of £103.7 million.  

Accounting for the role of support from other sources, it was estimated that Converge supported £11.0 million GVA and 289 jobs in 2019, and £41.0 million of external funding could be attributed to them. 

For each £1 invested in the Converge, it supported an additional £3.66 GVA in 2019, and £13.62 in external funding.

The press release and report can be accessed at the links below:

Posted 26.10.20