Capital raised by tech start-ups under Government scheme doubles
6 February 2025, 10:04
Deputy First Minister Kate Forbes said the Techscaler programme has made Scotland ‘one of the best places in the world’ to launch such a business.
The amount of capital raised by Scottish start-ups under a Government scheme has doubled, figures show.
The Techscaler programme was launched two years ago offering services to burgeoning companies, including mentorship.
Membership of the scheme has almost doubled from 502 companies in 2023 to 978 in 2024, a report has found.
Those companies raised £118 million in capital last year, compared to £54 million the previous year.
Deputy First Minister Kate Forbes praised the work of the scheme.
“The Techscaler programme – which I am deeply proud to have launched just two years ago – is contributing to Scotland’s reputation as one of the best places in the world to launch a tech start-up,” she said.
“While this is a relatively young programme, what this report makes clear is that it is delivering results and helping entrepreneurs to unleash their ability to innovate, spearheading Scotland’s presence in expanding new markets.”
The programme is run by the Edinburgh-based company CodeBase, whose boss Stephen Coleman said: “We’re proud of our collective achievements over the first two years of Techscaler, delivering strong support for our ambitious founders and start-ups both here in Scotland and increasingly as they target global markets, building on our position as a catalyst driving innovation, partnerships, and collaboration across the Scottish tech ecosystem.”
