Innovation and entrepreneurship go hand in hand, so I was pleased to hear that different stakeholders were involved in launching Glasgow’s first ‘venture studio’. Don’t worry if you’re not too familiar with the phrase, it simply means organisations that create startups.
The project is part of the Glasgow City Innovation District (GCID), supported by Glasgow City Council and funded through the UK Shared Prosperity Fund.
The objective of the GCID Venture Studio is to help Glasgow-based founders develop new business models or products with a whole team of different individuals, from designers and developers to other experts, working together to build and scale up new business ideas.
Not only will the studio offer innovative programmes where multiple projects and businesses will be able to collaborate, it will showcase four pillars of activity designed to support the needs of the city’s digital, technology, engineering and creative sectors.
Interestingly the first call is around a challenge on space data – where businesses selling or using solutions that use space data to further collaborate with existing or potential customers, can take part.
Not only does this extend to Glasgow businesses, students from universities are also involved, where successful companies can receive grant funding of up to £30,000.
The first activity is in partnership with Scottish Enterprise’s mission programme team with support from University of Strathclyde’s space group and the West of Scotland Space Cluster.
To see Glasgow City Council and Scottish Enterprise get involved is great news, as this is not only investment just within Glasgow, but it should also help drive further economic growth in the future, which is incredibly important, and even create more jobs.
It’s great to see this progress as I recall when GCID first launched in 2006. Since then, it has been led by various professors, however I look forward to seeing future startups develop and flourish thanks to the Venture Studio.
This highlights just how important entrepreneurship is when looking at Scotland’s bigger picture, especially at a time like this where we’ve just had a UK general election and both the political and business landscape are in a constant state of flux.
With this in mind, I’m patiently waiting for confirmation on whether the role of chief entrepreneur in Scotland will continue after its contract comes to an end in September, as I believe this is a key role required to help continue to grow the number of Scottish startups and support businesses which have just launched.
In 2022, Mark Logan, former Skyscanner boss, was announced as Scotland’s first chief entrepreneur, and named senior advisor to the Scottish Government with the objective to build a network of support for start-ups and scale-ups in the country.
It’s part of the National Strategy for Economic Transformation (NSET), however only time will tell whether this contract will be renewed, if someone else will take on the role, or if it was only ever deemed temporary under SNP’s rein.
In support, Kate Forbes of the SNP, before the election took place, publicly defended the office of the chief of entrepreneur and said it should be ‘a long-term endeavor’ – however with the political landscape currently changing, there’s no sure sign.
The Scottish Government has said Mark has made ‘an exceptional impact’ but like all ministerial appointments, there is a process which needs to be followed and they’ve said an announcement will be made in due course – when that will be, who knows.
In my opinion, we should be ensuring that all business owners and entrepreneurs are fully supported and have the opportunity to liaise with experts within different industries, and, if the chief entrepreneur is one of the ways this happens, then the role should be made permanent.
Whatever happens post-election and the country still finding its feet, economic growth lies at the heart of everything we do. And, as an entrepreneur with years of experience, collaboration is key, which is one of the reasons why the GCID Venture Studio is so exciting.
The first challenge is quite literally taking off, and I can’t wait to see the results.
Tartan Army fuels tourism triumph
In the midst of economic challenges, Scotland has found an unexpected beacon of hope: the Tartan Army’s spirited presence at Euro 2024.
While Scotland’s Euro 2024 journey came to a quick conclusion, recent reports reveal that the influx of partying Scottish football fans has driven an impressive 88 per cent increase in traffic to VisitScotland’s website.
This surge not only highlights our passion for football, but shows we are a powerful advertisement for our country on a global stage.
The Tartan Army’s enthusiastic participation in Euro 2024 has not gone unnoticed. German fans, inspired by Scotland’s spirited off field performance are already planning return trips. This influx of international interest is poised to inject much-needed vitality into our tourism sector, potentially revitalising local businesses and supporting jobs.
Beyond the economic benefits, Scotland’s representation at Euro 2024 has strengthened our global reputation as a welcoming and vibrant destination. The positive coverage and social media buzz generated by fans sharing their experiences in Germany paint a picture of a nation rich in culture and hospitality.
This exposure is invaluable, positioning Scotland as a top choice for future travelers seeking memorable experiences and warm welcomes. As we celebrate this unexpected triumph on a rather lackluster football adventure, let us also recognise its broader impact on the business landscape.
Scotland’s success at Euro 2024 was not just about goals and wins—it’s about seizing opportunities to showcase our country to the world, attract visitors, and drive economic growth.
As we bask in the glow of Scotland’s Euro 2024 off field success, let’s kick off a new era of tourism growth and show the world that when it comes to hospitality, Scotland is truly top of the league.
It Made Me Laugh
AI candidate or conspiracy?
I had to chuckle at the story where Reform UK had been accused of taking a futuristic leap by supposedly fielding AI-generated candidate Mark Matlock.
Looking at his seemingly too perfect profile picture, online commentators had decided the poor politician was computer-generated and conspiracy theorists went wild with the suggestion online.
While it’s amusing to think of robots in Parliament, surely there are better uses for AI than creating more candidates?
How about AI to predict stock market trends or streamline business operations?
Imagine the campaign slogans: “Vote AI – because innovation is our future!” And who knows, maybe ChatGPT can bring a fresh perspective to old problems. Now that’s a machine learning curve worth laughing about.
It Made Me Weep
Retail struggles deepen
Scottish retailers are grappling with a harsh reality as sales plummet to new lows.
June’s dismal figures, showing the lowest footfall in months, underscore a troubling trend, according to the latest Scottish Retail Consortium (SRC) and KPMG figures.
Shoppers, squeezed by rising living costs and economic uncertainty, are spending less, leaving retailers with unsold goods and dwindling profits.
This downturn is not just a blip; it signals a deeper malaise in the retail sector. If current trends continue, we could see a wave of shop closures and job losses, further eroding the vitality of our high streets.
It’s a wake-up call for policymakers and business leaders to address the underlying economic issues before it’s too late.
