Techscaler programme helps raise more than £250m for Scottish start-ups

Scottish technology companies have raised £257m in capital investment since the launch of a government scale-up initiative.

Begun in 2022, Techscaler seeks to connect fledgling companies with investors and customers.

According to its annual report, the initiative has now raised £257m in capital, including £139m in the past year alone.

More than 1,500 companies and 2,000 individual members have been supported since its launch.

The results were welcomed by First Minister John Swinney at the opening of a new premises for Techscaler at Water’s Edge in Dundee, which will provide a centre of tech start-ups in the Tayside area.

He said: “Techscaler was created to strengthen Scotland’s entrepreneurial environment by giving founders the skills, support and connections needed to build globally competitive companies.     

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

He added: “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.”   

Jon Hope, interim chief executive of CodeBase, which runs Techscaler, said: “With this year’s annual report showcasing Techscaler's growing national impact, we’re delighted to be collaborating with Water's Edge to build on the strong foundations and exceptional work already underway in the region.

“Together, we’re doubling down on its world-leading strengths to fast-track high-growth businesses toward global success. 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.”