A first of its kind fintech hub, backed by the UK and Scottish governments will open its doors to entrepreneurs in May 2017, based in Entrepreneurial Spark at Royal Bank of Scotland’s Edinburgh offices.
The new hub will launch one year on from the opening of Entrepreneurial Spark’s dedicated space at Gogarburn and is set to become a centre of excellence for the burgeoning fintech sector, estimated to be worth up to £6bn to the UK economy.
It will bring together industry leaders and networks and marry them with Entrepreneurial Spark’s tried and tested approach to build, grow and scale businesses.
This will be a key milestone in Scotland’s journey towards its ambition of being a world leader in fintech and innovation. Fintech entrepreneurs will benefit from Entrepreneurial Spark’s hugely successful enablement programme as well as Royal Bank of Scotland’s tech expertise and networks.
David Ferguson, fintech entrepreneur and chief executive of Nucleus said: “It's great to see larger companies engaging in fintech and supporting the growth of emerging businesses. Important lessons can be learnt on both sides and that should only be positive for everyone involved.”
Lucy-Rose Walker, CEO of Entrepreneurial Spark said: “The new space is the first of its kind and will be a centre of excellence right at the heart of the financial services sector in Scotland.
“We’re bringing together industry leaders and networks and marrying that with Entrepreneurial Spark’s tried and tested approach to build, grow and scale businesses – all of that makes this a key milestone in Scotland’s journey towards its ambition of being a world leader in fintech and innovation.”
First Minister for Scotland, Nicola Sturgeon MSP said: “A year on from the very successful launch of the Entrepreneurial Spark hub at the Royal Bank of Scotland’s HQ, I am delighted that the hub is expanding to include space for fintech start-ups within Entrepreneurial Spark.
“This will contribute to the immediate need for physical space for fintech companies while the wider financial services industry continues to work collectively to deliver the fintech strategy. Scotland is already playing an active role in the fintech sector and the strategy will further enhance our standing, both nationally and internationally.”