£4 million for technology sector

Five technology hubs will be established with £4 million to support the next generation of Scottish start-ups.

This initial funding, announced today by Finance Secretary Kate Forbes on a visit to the CodeBase technology incubator in Edinburgh, will invest in critical infrastructure, enabling the hubs to give entrepreneurs world-class training and mentoring alongside the chance to network and share ideas.

The hubs, announced in response to entrepreneur Mark Logan’s review of the sector, will be known as tech scalers and will be tasked with supporting at least 300 start-ups by 2025. The Scottish Government is also setting up an Ecosystem Fund to make strategic investments in the sector and plans to establish a formal partnership with the technology industry to drive forward Mr Logan’s longer-term recommendations.

Ms Forbes said:

“I’m pleased to announce this initial investment in tech scalers, the central recommendation from Mark Logan’s groundbreaking review of our technology sector.

“These hubs will transform the quality and intensity of support available to Scottish start-ups, delivering world-class education to tech entrepreneurs, helping this vital sector to grow and create jobs.

“They will also offer the chance to network and share ideas, laying the groundwork for Scotland’s digital future.”

Background

Read Mark Logan’s Scottish Technology Ecosystem Review.

Further details of the Scottish Government’s response to the report can be found in the 2020-21 Programme for Government.