Edinburgh start-ups alone have generated a turnover of £14,565,763, while Glasgow and Ayrshire have created 55 jobs and secured £380,000 investment respectively
Scottish start-ups on board Entrepreneurial Spark’s business accelerator programme have generated nearly £25 million turnover in the past 12 months, as well as securing investment of £3,216,044 and creating 198 jobs.
That’s according to the organisation, which offers the world’s largest free business accelerator for early stage and growing ventures.
To celebrate the news, Keith Brown, Cabinet Secretary for Economy, Jobs and Fair Work, paid CEO Lucy-Rose Walker a special visit to its Edinburgh ‘hatchery’ earlier today (Wednesday, 5 October) to discuss entrepreneurship in Scotland and meet some of the entrepreneurs who have generated a combined turnover of £24,719,720 over the last 12 months.
Brown’s visit enabled him to see first-hand how collaborative working is helping fledgling entrepreneurs grow their businesses at Royal Bank of Scotland headquarters at Gogarburn in Edinburgh, with support from KPMG, Dell EMC and Harper Macleod.
Entrepreneurial Spark has 12 ‘hatcheries’ across the UK, with Scottish bases in Edinburgh, Glasgow and Ayrshire, alongside a recently-launched virtual accelerator in the Highlands and Islands to support businesses across the north of Scotland. A further hub is set to open in London in 2017.
As well as generating turnover of £24,719,720, ‘chiclets’ based in the Edinburgh, Glasgow and Ayrshire Hatcheries have secured investment of £3,216,044 and created 198 jobs over the last 12 months.
Edinburgh ‘chiclets’ alone have generated a turnover of £14,565,763, while Glasgow and Ayrshire ‘chiclets’ have created 55 jobs and secured £380,000 investment respectively. Brown met with a number of the ‘chiclets’ which are helping to make a big impact on the economy, including Sara Hawkins of Run-It, Steve Regis of ARX Defence, Lawrence Brown of Phund, Julie Shaw Binns of Brand Oath, Calum Leslie of YoCo Club, Nick Findlay of City Room Rentals, Phil Mowat of Tie Club, Scott McFarlane of Trans World Experience, and Andrew Bone of Airts.
He said: “We have made clear our ambition to be a world-leading entrepreneurial and innovative nation. One in which growth and innovation go hand-in-hand with a commitment towards delivering wider benefit to all of society. It is excellent to see so many small businesses making such a large impact on the economy.
“Today’s visit highlights the Scottish Government’s commitment and support to innovation and entrepreneurship in Scotland. Through Scotland CAN DO, we recognise the strengths and entrepreneurial potential of our nation and Royal Bank of Scotland and Entrepreneurial Spark are a key partner in the CAN DO eco-system.”
Walker said: “It’s been great to have Keith Brown MSP in the Edinburgh Hatchery at Gogarburn and to be able to showcase the range of businesses that are being developed here. It’s been an incredible year for the Scottish Hatcheries; with Edinburgh, Glasgow and Ayrshire Chiclets generating a combined turnover of nearly £25 million, securing investment of £3,216,044 and creating 198 jobs.
“With the Edinburgh Hatchery based in the Entrepreneurial Centre at Royal Bank of Scotland’s global headquarters, I hope Keith Brown was inspired by the #GoDo atmosphere and ecosystem of collaboration and innovation.”
Gordon Merrylees, head of enterprise at the Royal Bank of Scotland, said: “The Royal Bank of Scotland is proud of its relationship with Entrepreneurial Spark and the success it is helping so many entrepreneurs here achieve.
“Scotland has a long history of creativity and innovation across all sectors – and accelerators such as Entrepreneurial Spark are crucial for that story to continue. It is important that the public and private sectors, Government and everyone who plays a role in shaping Scotland’s future are aware of the services available to help budding entrepreneurs create successful and scalable businesses.”