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Competition to find Scotland’s next tech unicorn launches

Published

7 months ago

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Competition to find Scotland’s next tech unicorn launches

The search for the top tech innovator in Scotland has been launched.

The 11th annual KPMG Private Enterprise Global Tech Innovator has seen previous winners such as What3Words, SafetoNet, FIDOTech and 2022 winner HiiROC, which went on to win the global final during Web Summit.

The competition is open to scale-up businesses, which – once shortlisted – will be invited to pitch and present to panels of industry experts for a Scottish heat.

The Scottish winner will pitch again at a UK final in July, with the UK winner then pitching at the global final in Lisbon during Web Summit later in the year.

Almost 400 aspiring tech giants applied to the competition last year, which was ultimately won by St Helens-based Inovus Medical, for a solution to the global surgeon shortage via its digital surgery platform.

Aberdeen based Leap Automation won the Scotland heat in 2023.

Amy Burnett, head of KPMG Private Enterprise Access, said: “Over the few years, we have seen our competition go from strength to strength as our tech ecosystems in Scotland continues to mature, grow and develop.

“Innovation is now firmly on the agenda of businesses and policy makers as a vital contributor to the health and wealth of our economy – this competition is a great platform to help profile, recognise and celebrate the outstanding technology being developed across the Scotland, and the wider UK.”

The competition is open to pure technology, tech-enabled, tech-led, or tech-driven businesses.

Patrick Ring, reader in financial services at Glasgow Caledonian University

Separately, Scottish financial services firms are being urged to sign up for a new business support programme.

Future Finance aims to enhance innovation and productivity in the sector and help companies adapt to challenges, ranging from artificial intelligence and data to changes in regulation and widening access to services.

The £1.8m initiative, funded by Innovate UK and the Economic and Social Research Council (ESRC), is initially being rolled out as a pilot in Scotland today.

Four universities – including Glasgow Caledonian University, the University of Glasgow, Bristol and the West of England – are leading the project, in collaboration with SETsquared, FinTech West and other industry partners.

Industry partners include NatWest, Deloitte, Burges Salmon and Hargreaves Lansdown.

Patrick Ring, reader in financial services at Glasgow Caledonian University, said: “This is an opportunity to bring together the expertise of academia, industry, fintech and communities to identify barriers to innovation and deliver products, services, skills and training that unlocks greater innovation among SMEs.

“In doing so, it also aims to tackle challenges around responsible access and uptake of financial services by underserved individuals and communities.”

Nicola Anderson, chief executive at FinTech Scotland, said: “We encourage both established financial service organisations and fintechs to make the most of the opportunity.

“The programme provides a platform for incumbents to learn about the latest technology advances and collaborate with fintechs from Scotland and the rest of the UK, accelerate innovation and drive better customer outcomes.

“Collaborations between our two Glasgow-based university partners and their English counterparts will enable participating organisations to build networks outside of their regional base.”

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