John Swinney hails growth in Scotland’s ‘entrepreneurial ecosystem’

Scotland’s “entrepreneurial ecosystem” is boosting the country’s profile as an “ambitious innovation nation”, First Minister John Swinney has declared.

He spoke out as new data showed Scottish tech founders have raised a total of £257 million in investment since joining Techscaler – Scotland’s national tech scale-up programme – an increase of £139 million on the previous year.

Ministers believe figures contained in Techscaler’s annual report help to highlight the Government’s commitment to “building a world-class tech ecosystem”.

Mr Swinney, speaking as he visited Techscaler’s new site in Dundee, said the programme had been created to “strengthen Scotland’s entrepreneurial environment”.

He added that the scheme gives tech founders the “skills, support and connections needed to build globally-competitive companies”.

The First Minister said: “It is encouraging to see this vision reflected in this year’s results, with a remarkable £257 million now raised by founder members since launch, more than double the previous year.

“This figure highlights Scotland’s entrepreneurial ecosystem is becoming even more connected, collaborative and globally engaged – raising Scotland’s profile as an ambitious innovation nation.”

He added the new base in Dundee’s Water’s Edge would become a “vibrant hub for entrepreneurs in the city”.

Jon Hope, interim chief executive officer of growth platform CodeBase, said the report highlighted Techscaler’s “growing national impact”, adding they were working to “fast-track high-growth businesses toward global success”.

Mr Hope said: “From our Water’s Edge office, we’ll be proud to support cohorts of early-stage, growth and scale-up companies, providing access to local and national expertise — including entrepreneurs in residence, experienced mentors, investor networks and international connections.”