Scotland has been named one of the “best places in the world” for start-ups businesses.
Techscaler is a Scottish Government programme that was introduced in 2022 in an effort to help tech founders launch and expand their businesses. The business accelerator programme has helped Scottish entrepreneurs raise more than £118 million of capital investment over the past two years.
It comes from both private and public sources, and is supporting businesses in various sectors. These include medical technology, artificial intelligence, and space.
Earlier this week, Deputy First Minister Kate Forbes spoke during a presentation marking the publication of Techscaler’s Annual Report. During the talk, she described Scotland as among the top destinations in the world to launch a start-up tech company.
The number of companies involved in the Techscaler programme were also revealed to have almost doubled last year from 502 to 978. Meanwhile, the number of individual entrepreneurs more than doubled from 610 to 1,411.
According to the Scottish Government, participants are able to access a number of benefits. Among these are mentoring, training, and introductions to potential investors and customers.
Further activity included two international pop-up hubs in Singapore and San Francisco. These were intended to assist companies in penetrating global markets.
Glasgow AI chatbot and messaging technology company Konversable, which helps companies convert enquiries into sales, was introduced to potential investors and customers at Techscaler’s Singapore pop-up in October. The company secured £300,000 investment over the year.
Deputy First Minister and Economy Secretary Kate Forbes commented: “The Techscaler programme – which I am deeply proud to have launched just two years ago – is contributing to Scotland’s reputation as one of the best places in the world to launch a tech start-up. While this is a relatively young programme, what this report makes clear is that it is delivering results and helping entrepreneurs to unleash their ability to innovate, spearheading Scotland’s presence in expanding new markets.”
CEO and co-founder of Edinburgh company CodeBase, which runs the Techscaler programme, Stephen Coleman added: “We’re proud of our collective achievements over the first two years of Techscaler, delivering strong support for our ambitious founders and startups both here in Scotland and increasingly as they target global markets, building on our position as a catalyst driving innovation, partnerships, and collaboration across the Scottish tech ecosystem.”
More information can be found on the Scottish Government website.