Twenty companies have joined a growing internet of things (IoT) cluster in Glasgow – providing business mentorship and support.
The firms have embedded at the Smart Things Accelerator Centre (STAC) accelerator scheme where they will be given access to advisory services and potential investor funding sources.
Among the fourth cohort, which has now reached 50 companies in total, are six female founders with STAC seeking to promote diversity and inclusion initiatives.
Paul Wilson, CEO and co-founder of STAC, said: “STAC had evolved rapidly into what we describe as a full wrap-around accelerator, around four main pillars – scaling mentorship, space, investment and talent acquisition.
“What’s also notable is that with over 50 companies now at STAC, sector clusters are emerging, for example in sustainability, robotics, drones, health and wellbeing, and creative tech.”
He added: “We are seeing more female founders join STAC. Ideally, we can up the percentage over time but it’s critical for now that we help them succeed. Unlocking the potential from inclusivity and diversity is highly strategic for STAC and we want to leverage the Stewart Report and collaborations to make maximum impact.”
The 20 new companies joining STAC at the city’s SkyPark facility are: Zephyrus Labs, Orchyio, BennuAI, Hycean, FocaliseAI, Konpanion, Deep Sym, Audio Mitto, Lu Innovations, Mix Innovations, MyFarm, Dr Little, Kyobit, Ufarms, RfIoT, Vuabl, Atypical, Lowtek Games, Curious Chip, and Thistle Rocketry.
STAC Invest and STAC Jobs were both successfully launched in December and January. STAC Invest, which enables investment firms to engage and potentially invest with STAC companies, has attracted 30 investment firms to date and will launch an investment syndicate in 2024. STAC Jobs, set up to attract and retain Scotland’s top product design and engineering talent, with Sonos, Pivot, IOpt, and Krucial joining the platform.
Paul Winstanley, the CEO of CENSIS, Scotland’s innovation centre for IoT technologies, has also been appointed as STAC’s Chair. Winstanley, a co-founder at STAC, had already been a board member and supported by an advisory team that includes Volvo Cars CEO Jim Rowan, and Meta’s VP of Supply Chain Sean Murphy.
In January, STAC announced a partnership between the UK Government and Glasgow City Council, including significant government investment, aimed at transforming Glasgow into Europe’s largest smart things and IoT innovation hub. The partnership centres a £2.5 million private and public sector investment into a 250-desk state-of-the-art facility named “thebeyond” at SkyPark, Finnieston in Glasgow.
