STAC Invest Syndicate Unveils £150k Fund to Propel Scottish 'Smart Things' Startups

Startups will receive financial support as well as access to advanced labs and co-working spaces at STAC's recently constructed 'thebeyond' campus in Glasgow

The Smart Things Accelerator Centre (STAC) has launched the STAC Invest Syndicate, providing a £150,000 boost to selected startups from its upcoming fifth cohort. This initiative aims to nurture high-growth Scottish tech companies working on advanced robotics, IoT, AI, and edge computing technologies.

In collaboration with the National Robotarium, the STAC Invest Syndicate will offer financial support, mentorship, and co-working spaces to fuel innovation in Scotland's "smart things" sector. Applications for the fifth cohort open on October 14, with the program starting in December. STAC CEO Paul Wilson emphasized the importance of combining investment with mentorship to create internationally competitive tech companies. He highlighted STAC’s commitment to fostering innovation, drawing parallels to global accelerators like Y Combinator and Techstars. The partnership with the National Robotarium is part of the Edinburgh and South-East Scotland City Region Deal’s Data-Driven Innovation initiative. Stewart Miller, CEO of the National Robotarium, noted that this collaboration positions Scotland as a leader in robotics and IoT technologies, aligning with the projected $283 billion global robotics market by 2032.

Startups will receive financial support as well as access to advanced labs and co-working spaces at STAC's recently constructed 'thebeyond' campus in Glasgow, which is the largest "smart things" hub in Europe. The goal of STAC's corporate partnerships, which include Volvo Cars, is to promote growth and innovation in industries like manufacturing, energy, and healthcare.