RBS and STAC Join Forces to Propel Deep Tech Growth
Royal Bank of Scotland (RBS) is collaborating with STAC, an advanced technology accelerator, in an effort to energize Scotland’s burgeoning deep tech startup ecosystem. This strategic alliance aims to provide STAC’s startups with improved access to funding and open doors to both domestic and international markets.
The partnership, facilitated through RBS’s Accelerator program based in Glasgow, offers comprehensive support to entrepreneurs seeking to expand their businesses. The collaboration will give businesses in the deep and advanced technology sector access to the resources and expertise of the Accelerator.
This partnership also allows STAC to share its expertise with the wider Royal Bank Accelerator community, equipping bank staff with deeper knowledge of this expanding market. Additionally, RBS’s extensive business and customer network will offer investment prospects to the STAC community.
Darren Pirie, head of NatWest Group Accelerator, commented on the significance of this partnership: “As Britain’s biggest bank for startups, we understand that helping businesses succeed, not just through traditional lending but with full wraparound support, is crucial if we want a strong economy.” He continued, “This year marks the 10th anniversary of Accelerator, and we are excited by what our partnership with STAC can bring to the deep tech sector. In our accelerator hubs we have seen many companies secure investment, grow their teams and move into new markets. This Glasgow partnership expands that opportunity to an invaluable industry.”
RBS operates its Accelerator program in Glasgow from Queen Street, which will serve as the base for the collaboration with STAC.
Paul Wilson, CEO of STAC, highlighted the organization’s evolution: “In three years, STAC has evolved into a leading technology scaler. With our investment syndicate launched in December, we now offer a comprehensive model encompassing mentorship, co-working, talent acquisition, and an investment platform.”
Wilson also stated, “We are ready to advance and position Scotland as a leader in deep tech, and our partnership with Royal Bank strategically targets our next steps of internationalization. We are working together to raise more investment, connect our startups with corporations, and broaden our reach. STAC and ‘thebeyond’ in the center of Edinburgh is now under careful consideration.”
The new partnership coincides with the appointments of Richard Lewis and Andrew Davidson to STAC’s board. Lewis, a highly experienced NXD and chairman who has advised many Scottish tech startups, joins as chair. Andrew Davidson, an investment director with Scottish Equity Partners (SEP), joins as a non-executive director.
Wilson added, “Having Richard and Andrew on board is a big win for STAC and all the companies we support, especially given their strong scaling and tech investment records.”
