Edinburgh firm named among four winners chosen from over 140 entrants
Edinburgh-based Draconite, whose heat-protection technology was first developed by its founder in a shed in Scotland, has been named Most Promising Small Business at KPMG UK’s annual Black Entrepreneurs’ Awards (BEA). The company received a £25,000 cash prize to invest in the business.
Now in its seventh year, the initiative supports emerging Black Heritage entrepreneurs by providing them with a platform to showcase their ventures to a wider audience and enabling opportunities for growth. Four businesses were selected as winners from 12 finalists and more than 140 entrants, each receiving £25,000.
Alongside Draconite, the winners were Surrey-based allergen-free food business Creative Nature, London-based sun-care brand BEAME, and Black British Initiative, which supports underserved Black founders. All finalists will receive access to a 12-month acceleration programme designed to provide guidance, expertise and connections to support their business.
Draconite was founded by inventor Dr Alisha Fuller-Armah. The company has developed a heat-protection material with potential applications across aerospace, defence, electric vehicles and construction.
Dr Alisha Fuller-Armah, Founder and Inventor, said: “Winning KPMG Black Entrepreneur of the Year is a tremendous honour. Draconite shatters expectations not just in how we build, but in what can be achieved. Thank you to KPMG for recognising a story of determination, radical materials innovation and the potential of sovereign, British-grown technology to transform industries worldwide.”
Vishal Chopra, Scotland Senior Partner at KPMG UK, said: “A huge congratulations to Alisha and the team at Draconite on this well-deserved recognition. To take an idea first developed in a shed and turn it into pioneering technology with the potential to transform industries around the world is a remarkable achievement and a fantastic example of Scottish innovation at its best.
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“Scotland has a thriving entrepreneurial landscape, with ambitious businesses developing new ideas and technologies that have the possibility to make a real impact on a global scale and Draconite is a great example of just that.”
Since launching in 2018, KPMG UK’s Black Entrepreneurs’ Awards have supported 48 Black Heritage founders, providing around £600,000 worth of investment. The company said some previous finalists have gone on to raise over £3 million in funding, expand internationally, feature on the Forbes 30 Under 30 list and receive MBEs in recognition of their impact on making venture capital more inclusive.
