TECHSCALER, the Scottish Government’s tech startup support programme, and
FinTech Scotland, the cluster body driving Scotland’s fintech innovation, announced a
strategic partnership poised to drive forward Scotland’s fintech sector development. FinTech
SMEs now employ more than 10,500 people across 226 enterprises in Scotland, with around
38% of fintechs have reached the scale-up stage.
Nicola Anderson, CEO of FinTech Scotland, said: “This collaboration is about getting
behind Scotland scaling for tech, together. It underscores our joint dedication to cultivating
innovation and showcasing the vibrant fintech community in Scotland. We look forward to
bringing tangible benefits to our scaling fintech SMEs, and sharing our sector expertise with
Techscaler founders, to build a robust and forward-thinking fintech cluster.”
FinTech Scotland’s affiliated scaling firms will now be able to access the comprehensive
benefits offered by Techscaler membership, opening the door to an extensive network and
support system of mentorship, educational courses, community events, and more, enhancing
collaboration opportunities and fostering growth for fintech innovators.
Techscaler runs three main programmes – Startup First Steps, Startup Next Steps, and
Reforge. Techscaler’s partnership with Reforge, the world’s leading career development
platform for top-tier professionals in tech, brings access to Silicon Valley playbooks and best
practices to founders in Scotland who are scaling their teams.
Yasmin Sulaiman, VP of Partnerships for CodeBase, said, “Connecting the diverse parts
of the tech ecosystem is a huge part of our job running Techscaler for the Scottish
Government. When organisations like ours and FinTech Scotland come together to
understand founders’ needs, we’re able to offer a much stronger suite of support and join up
founders with the opportunities they’re looking for to grow. We’re looking forward to
growing our partnership, and helping connect our community to FinTech Scotland’s
expertise.”
Innovation Minister Richard Lochhead said: “Our £42 million Techscaler network is
already showcasing some of Scotland’s most promising start-ups. This partnership with
FinTech Scotland is another example of how the Techscaler network is helping to galvanise
our innovative, collaborative and inclusive tech community by sharing knowledge and
supporting growth.”
Richard Lochhead added: “Progress like this demonstrates Scotland’s ambition to become
one of Europe’s leading start-up communities. We are setting an example and helping drive a
fair and growing economy.”
Techscaler’s fintech-focused members will be introduced to the resources and opportunities
provided by FinTech Scotland, bringing sector-specific support to fintech founding teams.
This collaboration ensures that Techscaler members operating in the fintech sector receive the
most relevant support to their sector, enabling them to tap into a broader ecosystem and lean
into finance-specific challenges.
To mark the initiation of the partnership, Techscaler and FinTech Scotland will host a
Founder Roundtable next month to gather insights from fintechs, providing founders with the
opportunity to engage directly with industry leaders and peers. The insights gathered from
the roundtable will be instrumental in curating activities and support mechanisms that meet
the fintech community’s needs. The roundtable event will take place at CodeBase in
Edinburgh on Wednesday 3rd April at 10.30 am after Unfiltered, CodeBase’s monthly open
networking event.
Colin Hewitt, CEO and Co-founder of Float Cash Flow Forecasting said: “Being part of
the CodeBase community through our journey with Float has provided us with a dynamic
workspace and access to the right people which has played a pivotal role in shaping Float’s
success. I’m excited about the partnership between Techscaler and Fintech Scotland, it
signals an exciting era for Scotland’s fintech ecosystem, and a positive sign of the continued
evolution of this vibrant community.”
Scotland’s commitment to fintech innovation is evident in its ten-year sector roadmap,
targeting the creation of 30,000 jobs and an ambitious economic value increase of over 330%,
surpassing £2bn by the end of the decade. This strategic vision aligns with the country’s focus
on four key segments: open finance data, climate finance, payments and transactions, and
financial regulation.
Through the partnership, Techscaler will lend its expertise to initiatives such as the Financial
Regulation Innovation Lab (FRIL), launched by FinTech Scotland in December in
partnership with mutual partners the University of Strathclyde and the University of Glasgow.
This initiative seeks to advance understanding and adoption of new and emerging
technologies in fintech through industry-led innovation challenges, skills and education
programmes, workshops, roundtables, conferences, and trade missions.
Techscaler has forged multiple partnerships across and beyond the Scottish tech ecosystem
since it has been operational, including with the Chief Scientist Office’s NHS Innovation
Hubs, govtech funding challenge programme CivTech, and STAC, the Internet of Things
accelerator.
