Scotland to launch fintech accelerator
Scotland to launch fintech accelerator

Scotland to launch fintech accelerator

Scotland's first fintech accelerator is set to launch in Edinburgh.

The new hub – which is backed by the UK and Scottish governments – will be based in Royal Bank of Scotland’s (RBS) Entrepreneurial Spark business centre in Gogarburn.

From May, fintech start-ups will be able to benefit from RBS’ tech expertise and networks, as well as help from Entrepreneurial Spark partners KPMG, Dell EMC and Harper Macleod.

Lucy-Rose Walker, CEO of Entrepreneurial Spark, said: “The new space is the first of its kind and will be a centre of excellence right at the heart of the financial services sector in Scotland.

“We’re bringing together industry leaders and networks and marrying that with Entrepreneurial Spark’s tried-and-tested approach to build, grow and scale businesses.

“All of that makes this a key milestone in Scotland’s journey towards its ambition of being a world leader in fintech and innovation.”

This latest announcement follows the appointment of Louise Smith, head of design in personal and business banking at RBS, and David Ferguson, CEO of Nucleus, as fintech envoys for Scotland.

Nicola Sturgeon MSP, first minister for Scotland, added: “I am delighted that the hub is expanding to include space for fintech start-ups within Entrepreneurial Spark.

“This will contribute to the immediate need for physical space for fintech companies, while the wider financial services industry continues to work collectively to deliver the fintech strategy.

“Scotland is already playing an active role in the fintech sector and the strategy will further enhance our standing, both nationally and internationally.”

The fintech sector is currently estimated to be worth up to £6bn to the UK economy.

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