News

Building the next generation of start-ups

Published: 01 Sep 2020 16:35
Part of:
Economy

Response to technology review.

A national network of technology hubs is being established to foster the next generation of Scottish start-ups, Finance Secretary Kate Forbes has told Parliament.

The hubs, known as tech scalers, will deliver world-class training and mentoring for technology entrepreneurs while providing opportunities to network and share ideas.

Outlining the Scottish Government’s response to entrepreneur Mark Logan’s review of the Scottish technology sector, Ms Forbes said there would be five scalers in place by 2022, with the aim of creating at least 300 high-quality start-ups over the next five years.

Ms Forbes also announced an Ecosystem Fund to make strategic investments in the Scottish tech sector and plans to establish a formal partnership with the technology industry to drive forward Mr Logan’s longer-term recommendations.

The Finance Secretary said:

“Mark Logan’s review of our tech sector has attracted universal acclaim, having been described as potentially transformational by key figures across business, technology and academia.  

“The tech scaler network is the report’s centrepiece and I am pleased to be putting this recommendation into action to dramatically increase the quality and intensity of support available to Scottish start-ups. 

“Today’s announcement is just the start of our response to Mr Logan’s report and I look forward to working closely with technology companies to create a Scotland where start-ups can thrive.”

Background

Mark Logan’s Scottish Technology Ecosystem Review was published on 25 August.

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