Tag: Techscaler programme

£5 million to unlock Scotland’s entrepreneurial talent

Support for start-up businesses

Extra investment to grow and nurture high-growth businesses and entrepreneurs has been announced.

The £5 million package will help deliver end-to-end support for Scotland’s start-up companies. It forms part of an ongoing to commitment to deliver on the recommendations of the Logan report into developing a world-class technology sector, and the Pathways report which is focussed on expanding the number of women starting and scaling-up businesses.

The package includes:

  • funding to expand the business funding competition Scottish EDGE, helping broaden and tailor the range of financial support available to fledgling businesses
  • the development of pre-start support, aimed at stimulating the earliest stages of business creation and product development for under-represented groups.
  • support to maximise the economic impact of university spin-out companies, and commercialise research
  • investing in initiatives that will attract the world’s top talent and showcase Scotland as a global destination for start-up founders and investors.

The additional support coincides with an announcement that Codebase, delivery partners of the Scottish Government’s £42 million Techscaler programme, are to partner with Scottish EDGE to develop the end-to-end support offered to businesses and entrepreneurs.

Deputy First Minister and Economy Secretary Kate Forbes announced the new funding as she visited the National Robotarium, the UK’s centre for Robotics and Artificial Intelligence and home to a number of spin-out tech companies.

She said: “Innovation is at the very heart of our economy. We have the talent, the skills and the facilities to make Scotland one of Europe’s fastest-growing start-up economies: an economy that is strong, successful and dynamic.

“This package of measures, which builds on the multi-million investment the Scottish Government is already making into our start-up business community, forms the next step in providing one of the most comprehensive government-backed support networks in Europe.

“The partnership between Codebase and Scottish EDGE also underlines our joined-up approach to fostering and nurturing Scotland’s young and vibrant business community. My message to Scotland’s innovators, entrepreneurs and disruptors is simple but clear: this Government believes in you and we will back you.”

Founder of the Hunter Foundation Sir Tom Hunter said: “Scottish EDGE is a proven, world class model of delivering finance to potential high growth early stage businesses and that has been independently verified.

“I am delighted the Deputy First Minister has recognised that and added significant additional resource to Scottish EDGE. When business and Government come together as they do in financing Scottish EDGE it can drive real economic growth by building the pipeline of entrepreneurial businesses, employment and the taxes that pay for public services.”

Entrepreneur and Investor Ana Stewart, author of the Pathways report on under-representation of women in entrepreneurship, said: “‘This  is a meaningful step forward in tackling the extreme gender imbalance which currently exists in entrepreneurship.

“I look forward to engaging and supporting the Government and other partners in enacting change whilst building on the existing momentum created since the publication of the Pathways report.

“Change will not happen overnight so I am also encouraged to see the adoption of a more strategic approach with a multi-year investment – a critical component if we are to tackle these persistent challenges.”

Techscaler programme creating entrepreneurs and innovators

Hundreds of start-ups supported in first year of programme

Almost 400 of Scotland’s tech start-up businesses have been supported during the first year of the Techscaler programme.

A total of 387 fledgling firms received assistance from the £42 million Scottish Government project – the most comprehensive of its kind in Europe – which provides free mentoring and advice to early stage business owners.

The seventh Techscaler hub will open in Dumfries during this financial year, joining others already operating around the country and underlining the Scottish Government’s commitment to innovative businesses.

The 2023-24 Programme for Government includes an additional £15 million to support entrepreneurs from all walks of life.

First Minister Humza Yousaf visited the Techscaler hub in Stirling to meet start up business owners and learn more about the programme.

The First Minister said: “Growing businesses are fundamental to a thriving Scotland, and the Scottish Government I lead is committed to doing whatever we can to help businesses unleash the enormous economic potential of accelerating a fair, green and growing economy. 

“That is why our Programme for Government is investing in the entrepreneurs of the future, building on the valuable work already taking place within Techscalers.

“Tech start-ups right across Scotland now have access to world-class education and mentoring and opportunities for peer learning and networking through the Techscalers – a hugely impressive programme which has made Scotland one of the most tech start-up friendly places in the world.

“We are taking action now, in partnership with business, to help stimulate sustainable and fair economic growth across Scotland.”

Inspiring a new generation of tech entrepreneurs – gov.scot (www.gov.scot)

Supporting a start-up nation – gov.scot (www.gov.scot)

Kickstarting new businesses – gov.scot (www.gov.scot)

Tech partnership boosts health innovation

Linking business and clinical expertise

Innovative companies will be able to trial new health products in clinical settings across the country following a link-up between the Scottish Government’s £42 million Techscaler programme and the NHS.

Participants in the programme, which provides world class expertise and support to young businesses with high growth potential, are being offered access to NHS Regional Test Beds. These enable entrepreneurs to work alongside clinicians and have access to patients and anonymised data to test ideas, products and services.

And in a reciprocal agreement, firms already using the NHS Test Beds will automatically become part of the Techscaler network.

Wellbeing Economy Secretary Neil Gray announced the move during a visit to Bioliberty in Edinburgh, which uses robotics to provide rehabilitation and assistance for stroke survivors.

The company will be one of 14 firms in sectors including healthtech and life sciences to join a Scottish Government-funded visit to New York to showcase their work.

Mr Gray said: “Scotland’s life sciences sector has an annual turnover of more than £8 billion and is one of our key sectors for transformative economic growth. This partnership will be able to leverage our world-leading universities, life sciences hubs and excellent healthcare systems to support the growth of the sector and development of entrepreneurs.

“Testing products in a real world environment and accelerating development is vital, and will enable a broader reach of the Tech Scaler programme. This in turn will benefit patients and medical staff as they develop cutting-edge technology for use across the NHS, from stroke and rehabilitation through to reducing drug-related deaths.

“It is a further example of the steps we are taking as we develop a sustainable, high-skill economy that works for everyone.”

Chief Scientist (Health) Anna Dominiczak said: “I welcome this collaboration, which will result in transformative innovations for the NHS and help to ensure that Scotland is the best location for life sciences companies.”

Scotland’s Chief Entrepreneur Mark Logan said: “By making this connection between health testing and business support, we create an environment for innovation which enables Scottish companies to compete effectively, whilst bringing much-needed treatment solutions to the NHS.”