Techscaler to launch new international venture

Techscaler is to grow its international reach with the launch of a new pop-up hub in Singapore later this year.

Funded by Scottish Enterprise, the latest expansion will offer a cohort of start-ups a three-week stay in the Asian country, which has become a global tech powerhouse.

As of 2022, the total value-add of Singapore's digital economy was $106bn, equivalent to more than 17 per cent of the country’s nominal GDP. 

It is hoped this latest initiative will nurture Scottish entrepreneurs, who are “crucial” to solving some of Scotland’s pressing issues, First Minister John Swinney said.

During the trip, start-ups will have the opportunity to build connections with fellow business founders, as well as potential investors and customers.

The first minister said: “Driving innovation is vital to helping unlock each of the Scottish Government’s priorities of eradicating child poverty, boosting economic growth, achieving net zero and improving public services. Growing and nurturing our pipeline of entrepreneurs and start-up companies is in turn crucial to unleashing its potential.

“Techscaler is central to our ambitions to create one of the finest state-funded entrepreneurial systems in the world dedicated to the creation of high-growth businesses. Connecting our promising start-ups to one of the world’s most renowned venture capital environments is a hugely exciting opportunity.”

Earlier this week Swinney met with Singapore’s high commissioner to the UK, Ng Teck Hean, to discuss the pop-up hub launch during an event designed to encourage trade and investment opportunities between both nations.

The first minister added: “By developing our network of global connections and collaborations, including the key strategic partner in Singapore, we are not only providing valuable experience for our fledgling businesses but deepening relationships, trade links and inward investment opportunities to capitalise on the enormous potential of our growing start-up community.”

Applications for the Singapore venture will open in August, with the trip set to run from 21 October to 8 November.

The announcement follows on from Techscaler's successful hub launch in San Francisco last March.

Marking its first overseas venture, the pilot offered 12 Scottish start-ups a three-week stay at Silicon Valley, which is known as a global hotspot for tech innovation. The city is home to major tech companies including Apple and Google.

A second leg of the Silicon Valley pop-up hub will also run from 26 August to 13 September.

The Scottish Government’s flagship programme launched in 2022 and has since helped more than 500 companies scale up.