CodeBase awarded ￡42m to create 'tech scaler' hubs | DIGIT Tech News Roundup
Welcome to the latest edition of the DIGIT Tech News Roundup.??
In this week’s newsletter we will cover some of our top-trending tech news stories, features and op-eds.??
Fintech Summit 2022?
Our next conference is the Fintech Summit, held live and in-person at Edinburgh’s Dynamic Earth on 15th September.??
Now in its ninth year, the Fintech Summit is Scotland’s largest annual gathering for financial technology professionals, providing an opportunity to reconnect with industry peers, build new relationships and explore the latest developments across the sector.??
To secure your free place at the Summit, please visit: www.fintech-summit.co.uk??
DIGIT’s top-trending stories?
CodeBase selected to lead Scottish ‘Tech Scalers’ roll-out?
CodeBase has been awarded a contract worth up to ￡42 million to establish seven new ‘tech scaler’ hubs across Scotland.?
The Tech Scaler contract, one of the largest investments by the Scottish Government into Scotland’s potential as an entrepreneurial nation, was announced by First Minister Nicola Sturgeon on Wednesday.?
The hubs, which were a key recommendation of the Logan Review, will provide a collaborative environment in which startup founders can scale their businesses and access advice and mentorship from industry experts.??
pureLiFi secures ￡10m investment?
Wireless communications startup pureLiFi has raised ￡10m in funding following an investment round led by the Scottish National Investment Bank.??
The Edinburgh-based firm uses light to transmit data rather than conventional radio frequency systems - such as WiFi or 5G – to provide more reliable communications.??
In a statement announcing the investment, pureLiFi revealed the funding boost will enable it to further develop its wireless communications tech and make inroads to new areas, including the smartphone and wearables markets.??
Gigged.AI targets global expansion after fresh funding?
Glasgow tech startup Gigged.AI has been awarded ￡100,000 in funding to scale development of its unique digital talent sourcing platform.??
The Scottish Enterprise grant will be used to re-platform the firm’s product following a period of heightened demand and expand into North American markets.??
Gigged.AI’s AI-driven platform matches businesses with internal talent and external freelancers for projects. The platform’s talent matching algorithm then pairs the client with the most suitable people from either the company’s internal workforce or Gigged.AI’s talent network of freelancers.?
Investment in Scottish uni spin-outs continues to impress?
Scotland saw more equity investment deals in university spin-outs compared to other UK regions last year, research shows.??
Statistics from the British Business Bank reveal that out of a total of 211 equity deals involving university spin-outs, 44 were from Scottish academic institutions.??
This marks the second year in a row that Scotland ranked top for investment in university spin-outs. In 2020, 64 deals were recorded, placing it above the East and South East of England.??
Bank branch closures risk leaving half-a-million Scots behind?
Half-a-million Scots are at serious risk of losing access to cash due to the current rate of bank branch closures, according to the Scottish Affairs Committee’s Access to Cash report.?
The report shows that more than half (53%) of Scotland’s bank branches have closed since 2015 – the highest percentage loss out of the UK’s four nations.?
While many Scots rely on cash to keep track of their monthly budgets, the study warned that a significant portion use cash due to difficulties in adapting to digital services – and elderly Scots are at high risk of being left behind.?
In particular, the report raised concerns that not enough support is being offered to help vulnerable or isolated individuals as the UK transitions to an increasingly digital society.?
Integrated Graphene to ramp up production?
Stirlingshire technology firm Integrated Graphene has announced it plans to invest ￡8 million to scale up the manufacture of its 3D graphene foam.??
With global demand for graphene expected to surpass $1 trillion by the end of the decade, the new investment will enable the firm to make inroads into new markets and meet surging demand in key industries.??
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Clean Energy Accelerator to support next generation of climate tech startups?
The Net Zero Technology Centre has opened applications for the fifth startup cohort of its TechX Clean Energy Accelerator.?
The accelerator programme offers high-potential clean technology startups with support and funding to scale up – providing mentorship schemes, tech development guidance and access to an extensive network of industry contacts.??
Investment in Scottish firms jumped 35% in 2021?
Equity investment in Scottish businesses surged by 36% in 2021, according to new figures from Scottish Enterprise.??
The latest Risk Capital Market report, which examines the performance of the Scottish equity investment market, shows that investment in Scottish firms increased to ￡690 million, up from ￡509m in the year previous.??
In addition, the report shows that Scotland’s investment market is among the best-performing in the UK behind the ‘Golden Triangle’ of London, the South-East and East of England.?
Skyrora opens UK’s largest rocket manufacturing facility?
Edinburgh-based rocket company Skyrora has opened a new manufacturing and production facility in Cumbernauld, the largest of its kind in the UK.?
After recently opening its engine test facility in Midlothian, the new facility will enable the company to concentrate its launch development practices in custom-built domestic facilities.?
The site boasts unique capabilities for space infrastructure in the UK, as certain tests that would typically be outsourced to facilities in other countries can now be conducted domestically.?
The production of two Skyrora vehicles has already commenced at the Cumbernauld site, which will increase to up to 16 per year once mass production begins.?
Online Safety Bill put on ice as leadership race heats up
The Online Safety Bill has been put on hold until later in the year as the race for Boris Johnson’s replacement heats up.?
On Wednesday evening, reports first emerged that the bill was set to be removed from Commons business to make space for a motion of no confidence in the government.??
The bill, which recently moved to report stage and was due to be discussed in Parliament next week, has now been officially paused and will likely return “in the autumn”.?
The announcement has been welcomed by opponents on the controversial bill while supporters have voiced concerns that the legislation could eventually be scrapped once the new Prime Minister takes office.??
Check out our latest long reads?
First Minister leads the line unveiling Scotland’s new ‘tech scaler’ hubs?
First Minister Nicola Sturgeon was joined by Finance Secretary Kate Forbes and Chief Entrepreneur Mark Logan on Wednesday evening to mark the launch of the tech scalers programme.??
Overcoming the barriers to security automation?
Yann Le Borgne, International VP of Threat Intelligence Engineering at Threat Quotient, explores how businesses can implement an effective automated cybersecurity strategy and how lack of money, time, and trust are hindering progress.?
What you need to know about the government WhatsApp controversy?
The Information Commissioner’s Office (ICO) has called for a government review into the use of WhatsApp private messages to send official correspondence.?
An investigation by the regulator found that a lack of clear controls were in place to prevent important information being mishandled or leaked.??
Staff writer David Paul looks at what the investigation means.??
DIGIT Events | Join us in-person!?
We understand the last two years has introduced new ways of working and coming back to in-person events may need a little more time to plan.?
So, we’ve released our full event calendar for 2022 to help you plan around work and other commitments to ensure you can join us.?