Techscaler companies capture multi-million
investment.
Startup companies being supported by the Scottish Government’s
Techscaler programme attracted investment of more than £52
million in 2023, according to the project’s first Annual Report.
The initiative supported more than 500 companies in its first
year, and now has nearly 2,500 members.
Techscaler is delivered by tech incubator Codebase. It was
launched to help fledgling companies and entrepreneurs start and
scale-up their businesses through education programmes, expert
mentoring and a growing network of physical hubs. More than a
third of those enrolling in one the programme’s education courses
were women, compared to the startup industry average of 20%.
Wellbeing Economy Secretary visited YOTEL in Edinburgh
to speak to Techscaler founders, including those who spent time
at the programme’s first overseas hub in San Francisco’s Silicon
Valley.
She said:
“By empowering startups, we are creating a strong economy built
on entrepreneurship, innovation, and sustainable growth. The
Techscaler programme continues to be one of our most ambitious
economic initiatives. Indeed, there is no other programme of its
kind in Europe.
“Entrepreneurship is at the heart of our National Strategy for
Economic Transformation. We are creating one of the finest
state-funded entrepreneurial systems in the world dedicated to
the creation of high-growth businesses and the first annual
report shows we are already seeing a return on our investment.
“Scotland has the potential to become a leading start-up nation
and this government’s clear aim is to unleash innovation and
entrepreneurial talent from all walks of life and in all parts of
the country. That Techscaler participants have raised a combined
£301 million in lifetime capital so far shows the enormous
economic potential of our startup community, and we will continue
to help them capitalise on this success.”
CodeBase CEO Stephen Coleman OBE said:
“At its heart, Techscaler aims to make Scotland the best place in
the world for founders to launch and grow a tech startup.
At CodeBase, we’ve been privileged to propel this groundbreaking
ecosystem-building programme into existence for the Scottish
Government. We can’t wait to build on this foundation in
year two.”
CEO and founder of Playmaker Alex Gordon-Furse said:
"The support that Techscaler provides to startups at all stages
of their journey has been really influential in the ecosystem
over the last year. I was part of the cohort of founders who went
out to San Francisco in February as part of Techscaler Silicon
Valley, and the experience was exactly what I needed, at exactly
the right time.
“It's helped bring about a step-change in how I'm developing my
product, and brought me together with a group of ambitious
founders that I know will provide valuable peer support
throughout my startup journey."
Background
Techscaler Annual Report
2023
Scottish Government
launches first Techscaler hub in Silicon Valley — CodeBase - The
UK's largest Technology Incubator, based in Edinburgh
(thisiscodebase.com)
The annual report was independently produced by Business Database
company Beauhurst.
The Techscaler programme was launched in November 2022. The
Scottish Government is investing £42 million in the programme.
