But, as the debate held at the Scottish Parliament illustrated this Burns Night, those celebrations aren’t just about celebrating the country’s past. They’re also a chance to look forward and celebrate the work being done to build a better Scottish future.

The historic Burns’ Night debate covered Scotland’s ambition to become a technology nation. It’s an apt debate given the country’s long history of innovation and massive technological potential.

Much of that potential lies in a startup ecosystem that, while still comparatively small on a global scale, is experiencing rapid growth thanks to government and private sector support. However, that growth could be supercharged with support from Scotland’s extensive diaspora.

A surge in Scottish startups

Make no mistake, Scotland has been home to leading technology companies for much longer than many think. For example, Dundee-based Grand Theft Auto developer Rockstar North was founded as far back as 1984. The country is also home to a unicorn (any startup with a valuation above $1 billion) in the shape of travel comparison site Skyscanner. 

Along with the startups thriving in Scotland’s health-tech, fintech, and artificial intelligence (AI) sectors, these successful tech companies have helped demonstrate what is possible to would-be entrepreneurs. The fintech sector, for instance, has seen its employment figures grow 24% in just two years. The healthtech sector, meanwhile, is home to some of Scotland’s most promising startups, including Amphista Therapeutics, NuCana BioMed, and Roslin.

With so much exciting activity in the Scottish startup sector, it should hardly be surprising that there’s been a surge in entrepreneurship in recent years. According to a report released in early January,  more than 38 000 startups were launched in Scotland in in 2023. That’s up just over 12% from the 34 000-plus startups that were founded in 2022. That so many companies launched in year where global investment and funding levels fell 38% shows exactly how enthusiastic Scots are about building startups.

Leveraging the available support

A key enabler of this growth has been the support offered by the Scottish government in partnership with the private sector. Not only has it made investments directly into the space in partnership with the private, but it’s also put money into things like infrastructure and innovation hubs. Additionally, it launched a programme in 2022 aimed at increasing the pool of available tech talent by making Scotland an attractive employment destination.

There are also several private sector programmes aimed at building support for Scottish startups. At the Scottish Business Network, for example, we help facilitate introductions to key individuals such as senior executives, business owners, entrepreneurs, potential partners, and domain experts, creating lasting and powerful connections.

One support mechanism that could be utilised far more effectively, however, is the large Scottish diaspora. More than a million Scottish-born people live outside the country’s borders, many of whom have deep expertise in the startup and entrepreneurial spaces. If that diaspora can be tapped into, it could be invaluable in helping take Scottish startups global and also in bringing investors into the Scottish startup ecosystem.

Unleashing Scotland’s full potential

There is no doubt that a country with as strong a track record of innovation and technological prowess as Scotland has many of the right ingredients to become a major player on the global startup stage. While the initiatives put in place by both the Scottish government and the private sector have undoubtedly played a significant role in creating a high-growth startup environment, it should also be clear that the Scottish diaspora, utilised effectively, could propel an even bigger wave of startup success.