Engage Invest Exploit (EIE) London has been hailed by organisers and the First Minister for strengthening the “gateway to global investment and finance for Scotland’s most innovative companies”.
The event took place yesterday at the London Stock Exchange and is supported by the Scottish Government’s Ecosystem Fund in connection with the Scottish Technology Ecosystem Review in 2020.
EIE has helped more than 540 companies raise more than £1.1bn since the investor-readiness programme was launched in 2008.
EIE alumni companies include Scotland’s first tech unicorn, fantasy sports site FanDuel, healthtech scale-up Current Health (acquired for $400m by US consumer electronics group Best Buy in 2021).
Agritech specialist Intelligent Growth Solutions (IGS) which announced a £42.2m Series B funding round on the occasion of Scotland’s Green Innovation and Investment Showcase, run jointly by EIE and Scottish Enterprise, at COP26 in Glasgow last November.
IGS is one of the Scottish technology companies that featured at EIE London, alongside ultrasound sensor specialist Novosound, facial animation scale-up Speech Graphics, and online brand protection business SnapDragon.
The alumni companies presented to a panel of investors - including Amadeus Capital, Playfair Capital, NatWest Group and RBS, Galvanise Capital, and Scottish Enterprise Growth Investments.
Ecosystem partners represented at EIE London include Scottish Enterprise, Scotland Development International (SDI), Scottish Financial Enterprise, the British Business Bank, and the Earthshot prize.
The EIE22 annual Investor Conference takes place on Thursday 6 October 2022, when this year’s 36 cohort of technology companies pitch for seed to Series A plus investment to UK and international investors.
First Minister Nicola Sturgeon, who hosted the EIE London event at the LSE, said: “Scotland is moving with vigour towards a high tech, low carbon economy and developing capabilities in emerging markets - including renewables, fintech, and cyber security - while our leadership around global priorities like net zero positions our tech sector to make the most of the opportunities for economic growth that a Just Transition presents.”
“The ties between London and Scotland’s tech ecosystems enable easy access for investors to leading edge Scottish companies via the City and, vice versa, companies based in Scotland can access the opportunities the City presents in order to maximise the sector’s potential and capacity to drive growth and job creation.”
Keynote addresses were also made by The Lord Mayor of London, Vincent Keaveny, and London Stock Exchange chief executive Julia Hoggett.
The Lord Mayor of London, Vincent Keaveny, said: “Strengthening links between London and Scotland’s thriving tech pipeline will help to drive investment and growth. I look forward to continuing to develop the partnership we have with colleagues in Scotland to the benefit of us all.”
David Farquhar, chief executive at Intelligent Growth Solutions, said: “IGS is delighted to have been identified as one of Scotland’s most innovative companies. Despite the obvious challenges of the last two years, through the pandemic our business has gone from strength to strength.
“Our central ambition is to have a positive impact across the globe. People come to work here to help find ways to tackle the climate crisis and feed the world, while aiming for net zero, and we now support local farmers and food supply chains across four continents.”
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