Tech start-ups bemoan lack of funding support

Access to finance is the biggest barrier to growth for Scottish technology start-ups and scale-ups, according to a new survey.

The study of 100 “data-driven” start-ups and scale-ups, undertaken ahead of this year’s Engage Invest Exploit (EIE) by the event’s organiser Informatics Ventures and conference sponsor Talentspark, found that some 40 per cent of firms are targeting the US market for growth.

The report also reveals that 52 per cent of respondents are targeting angel investment to fund their growth which is expected to fuel job creation across Scotland’s tech sector.

Steve Ewing at Informatics Ventures said: “The combination of academic excellence in data science, a vibrant startup community, excellent government support and additional expertise in areas like biosciences, financial services and marketing analytics creates an ideal environment for data-driven businesses to succeed.”