SCOTTISH TECH FIRMS SHOWCASED STATESIDE
Investment opportunities were central to Tartan Week celebrations as some of Scotland’s most innovative tech firms pitched to leading North American venture capital investors in New York.
Companies covering sectors including data, robotics, health tech software as a service (SAAS) and clean tech had the opportunity to make valuable connections at Scotland’s Tech Company Showcase last week, an event designed to establish a valuable platform in the US for these growth tech firms.
The event, organised by Scottish Enterprise’s international arm, Scottish Development International (SDI) entrepreneurial ecosystem organisation Foras and the Scottish Government through its Scottish Tech Ecosystem Fund was one of a series of engagements to mark Tartan Day which celebrates Scotland’s enduring connection with the US and Canada.
Now in its 25th year, the Tartan Week events culminated with the NYC Tartan Day Parade along Sixth Avenue in Manhattan.
External Affairs Secretary Angus Robertson was representing the Scottish Government during Tartan Week. He said: Scotland is home to hundreds of companies at the cutting edge of digital and technological advances, with our thriving data sector set to be worth £20 billion over the next five years.
As well as being our most important international trading partner, the US is already Scotland’s top source of foreign direct investment and events like this are an excellent platform to build on that international success story.”
He added: “In bringing some of the best talent, expertise and ambition that exists between our two countries together, we can forge new links to drive economic growth and job opportunities in the tech sector, whilst helping to solve some of the most pressing challenges of our time.”
The Tech Company Showcase also aimed to highlight the breadth of investment opportunities available in Scotland. A key priority of Scottish Enterprise’s global activities is to attract international capital investment by promoting investor ready companies looking to scale.
Reuben Aitken, Managing Director of International Operations at Scottish Enterprise said: The US and Scotland have a long and proud history of cultural and commercial links which Tartan Week provides a unique platform to celebrate. I’m delighted to be building future partnerships on that shared history.”
The Tech Company Showcase was part of a wider business mission arranged by Foras which provides immersive international experiences for entrepreneurs and ecosystem builders. The Programme was designed by Foras founders Dec McLaughlin, Nick Murray and Carolina Melendez, while the delivery team includes founder and community builder Rob Gelb and Scottish Enterprise’s Capital Investment team.
Nick Murray said: “This is the third founder cohort programme we’ve delivered in partnership with the Scottish Government and SDI with each trip providing a unique opportunity to explore different entrepreneurial ecosystems, gain insights from world class businesses, foster relationships among the cohort and engage with international partners and investment opportunities.
As a team we are incredibly proud to showcase these 14 businesses to the US market and demonstrate the Scotland’s innovative tech companies can compete with the best that the US has to offer.”
The US continues to be Scotland’s top inward investor accounting for 29.5% of Foreign Direct Investment projects into Scotland in 2021. The US is also Scotland’s top overseas trade destination with exports to the States accounting for 17% of the country’s total international exports in 2019.
SDI has four offices in the United States (Cambridge, MA; Chicago, IL; Houston, TX and San Jose, CA) and two in Canada (Toronto, ON and Calgary, AB). Inward investment specialists promote Scotland as a destination for global companies to locate, grow and develop in while their trade counterparts support Scottish companies to enter the North America market.
