A program seeking to support the development of high value digital technology companies known as “unicorns” is being established in Aberdeen as part of a network of so-called “tech scalers” backed by a £42 million grant from the Scottish Government.
The project is set to launch in the city this autumn after Codebase, the Edinburgh-based technology incubator, beat out a number of bidders to lead the tech scaler programme.
The aim of the funded project is to support tech founders to scale-up their businesses by accessing advice and mentorship from industry experts at the hubs, which will be based in Aberdeen, Dumfries, Dundee, Edinburgh, Glasgow, Inverness and Stirling.
Upon reaching an advanced level, businesses taking part will receive free access to Reforge – a private equity-backed provider of scale up education in Silicon Valley.
In Aberdeen, the project will be led by Codebase and Opportunity North East (ONE).
These organisations have already been working together since 2018 on similar initiatives at the city’s ONE Tech Hub next to Robert Gordon College.
What is tech scaler?
The tech scaler programme is the brainchild of Mark Logan, the former chief operating officer of Scottish tech success story, Skyscanner.
Logan was recently appointed as Scotland’s first chief entrepreneurial officer following the publication in 2020 of his Scottish Tech Ecosystem Review in which tech scalers were a key recommendation.
The Scottish Tech Ecosystem Review includes a recommendation to establish a network of Tech Scalers across Scotland. Having now completed a public procurement process, we can proceed to full implementation. But what are Tech Scalers? (thread)
— Mark Logan (@Mark_Logan1) July 14, 2022
Karen O’Hanlon, director digital tech at ONE, said the programme was looking for a “quick start” in autumn.
She said: “We have a large community of digital tech companies in the north-east, they will be able to make progress very quickly because ONE is there as a partner.
“We have done similar things in the past, there is a better understanding and awareness about what these courses do and their value.”
Creating unicorns
Since January 2022, ONE and Codebase have worked with more than 50 aspiring tech founders who have taken part in educational programmes for startups.
But these have “only just scratched the surface”, O’Hanlon added.
Looking forward to welcoming #TechScaler and @CodeBaseTech to @ONETechHub in Aberdeen.
— Karen O'Hanlon (@karen_ohanlon) July 13, 2022
“What the ambition is is creating more unicorns in Scotland.
“We have a few but we could have a lot more.
“We have some really exciting businesses in the region.
“There is a small number of companies with huge growth potential in the north-east.
“This programme is just perfect for them.”
Program to ‘supercharge’ tech growth
Speaking at an event in Glasgow where the contract was announced, Scottish economy minister Kate Forbes said Scotland’s tech industry is “already a dynamic and entrepreneurial community” which is forecast to be the second-fastest growing sector in Scotland by 2029.
“Our investment in the industry supercharges that growth by helping fledgling businesses get the confidence and momentum to be catapulted onto the world stage,” she said.
Logan added: “Tech scalers provide Scottish start-ups with a world-class start-up environment in which to learn, grow and succeed.
“I’m looking forward to working with the tech scalers team, to continue to develop Scotland’s technology capability into the future.”
Commenting on the announcement, Jennifer Craw, chief executive of ONE, said: “It’s great to see this game changing programme move forward to deliver on the recommendations of the Logan Scottish Technology Ecosystem Review and the ambition to drive entrepreneurship and establish Scotland as one of Europe’s leading start-up economies.
“ONE Tech Hub is home to the region’s tech ecosystem, and we look forward to strengthening and evolving our partnership with Codebase to build on our existing community of start-up founders, entrepreneurship programmes, mentorship and support.
“ONE will provide a regional lens to ensure we maximise the resources and talents of the north-east, bringing together partners from across the tech ecosystem.
“This together with the tech scaler investment will make north-east Scotland an outstanding environment for tech companies to start and flourish and put Scotland on the global start-up map.”
Conversation