A new investment fund has been launched to help support internet of things (IoT) and robotics startup companies in Scotland.
Glasgow’s Smart Things Accelerator Centre (STAC) is launching a syndicate fund, involving private and ‘angel’ investors, offering promising startups up to £150,000 each.
STAC also announced that it will partner with Heriot-Watt university’s National Robotarium – to provide mentorship, education and support for robotics and AI companies, in a bid to boost its capabilities in smart and connected products.
STAC Invest Syndicate will connect investors with high-growth potential companies to realise market opportunities in robotics, drones, mobile devices, edge computing, advanced materials, and artificial intelligence (AI). The fund will involve private investment channels and ‘angel’ investors.
STAC 5 commences in early December, with applications for entry to the latest cohort of 15 companies open on 14th October.
STAC CEO Paul Wilson said: “The investment fund, which will increase in size over time, is a significant step forward in our mission to develop scaled, internationally competitive startups. When you look at the best accelerators around the globe – names such as Y Combinator, Techstars, Plug and Play – they recognise that investment is a key component of tech scaling, and that combining mentorship with investment leads to improved investor returns.
“We are thrilled with the response of the investor community to get involved in STAC Invest Syndicate. With our international best practice mentorship programme and fully equipped co-working space we will fuel and equip our startups to create market-leading technology businesses.”
The partnership between STAC and the National Robotarium, the UK’s centre for robotics and AI and part of the Data-Driven Innovation initiative and Edinburgh and South-East Scotland City Region Deal, will combine resources to offer robot and autonomous systems startups ‘enhanced acceleration support’ across Scotland, and within the co-working spaces at STAC’s ‘thebeyond’ facility in Glasgow and the National Robotarium’s facility in Edinburgh.
Wilson said: “The National Robotarium will bring expert robotic engineering support to further boost STAC’s capabilities in smart and connected products. The partnership made perfect sense, and at the core is our shared mission to position Scotland as a centre of excellence in smart things, IoT technologies, and robotics.”
Stewart Miller, CEO at the National Robotarium, said: “Our partnership with STAC represents a significant step forward in positioning Scotland as a centre of excellence in smart things, IoT technologies, and robotics. The robotics revolution is upon us, with the global market expected to reach $283 billion by 2032 and, by combining our expertise in robotics and AI with STAC’s capabilities in smart and connected products, we’re creating a powerful ecosystem for innovation.
“This collaboration will not only drive economic growth but also address critical challenges in sectors like healthcare, energy, and manufacturing. Together, we’re ensuring that Scotland, and indeed the UK, becomes an active producer in the global robotics revolution, rather than just a passive bystander.”
Last month, STAC launched ‘thebeyond’ campus at Skypark in Glasgow, featuring cutting-edge product development labs and a 250-desk co-working space, which Paul Wilson says will be Europe’s largest “smart things” hub.
STAC is supported by a range of UK and international corporates, including Pelion, Plexus, and Keysight Technologies, and the technology accelerator announced its latest industry partnership in June, to provide an innovation pipeline for Swedish carmaker Volvo Cars, a pioneer in the electric vehicle (EV) market.