[07/08/23] Bayes Centre Community Profile: FinTech Scotland
Bayes Centre community member FinTech Scotland was established to secure Scotland’s place as a top five global fintech centre. The organisation brings together entrepreneurs, the established financial sector, the public sector, accelerators, investors, consumer groups, technology and service firms, universities and skills agencies.
How FinTech Scotland Started
Established in January 2018, FinTech Scotland was launched to ensure Scotland could seize the opportunity presented by the growth of the fintech movement around the world. FinTech Scotland was born out of a collaboration between the private sector, government and universities.
We believe fintech is a force for good, changing the way the financial sector has been operating to ensure it produces positive outcomes for people, businesses and society as a whole.
Enabling fintech companies of all sizes to start, scale up, develop and prosper
FinTech Scotland supports fintech companies throughout their life cycle, helping them raise their profile, investment and much more. Working with their partners, they create collaboration opportunities around key industry challenges. FinTech Scotland is a cluster management organisation, working across all verticals, to find ways for fintech innovation to drive positive outcomes.
Since its initial launch in 2018, FinTech Scotland has grown in size. In addition, it has help grow the Scottish fintech community from 25 in 2018 to over 225 in 2023. Fintech Scotland recently published their Research and Innovation Roadmap detailing an industry-led view as to how Scotland and the UK could retain its leadership. The Fintech Research and Innovation Roadmap is available to read HERE.
One of FinTech Scotland's biggest achievements so far was being awarded the Silver label by the Secretariat for Cluster Analysis for cluster management excellence in August 2022. They are the only fintech cluster in Europe to have received such a recognition.
Success often comes from collaboration
FinTech Scotland Marketing Director Mickael Paris's advice for aspiring entrepreneurs is that success often comes from collaboration.
The most important thing is to access support networks that can help you connect with peers, potential clients, research and much more. Connectivity unlock possibility and success.
Basing FinTech Scotland at the Bayes Centre
The University of Edinburgh is one of FinTech Scotland's founding partners and as such, being located within the Bayes Centre was a natural choice. It has allowed them to collocate with some of the fintechs they look after, researchers, academics and many accelerators with whom they collaborate on a daily basis.
Being part of the Bayes Centre community has been important for FinTech Scotland as it allows for meaningful connections to be made every day.
Being part of the Bayes Centre allows for meaningful connections to be made every day. Whether it's by serendipity or design, it is very easy to meet interesting companies and individual and create collaboration opportunities to drive innovation.
To find out more about FinTech Scotland and the work they are doing, visit their website.