RBS welcomes first fintech hub for entrepreneurs in Scotland

 

RBS-Gogarburn-buildingThe first fintech hub supporting entrepreneurs in Scotland is to be opened during May and estimated to be worth £6.6bn.

Approximately 100 entrepreneurs and ten organisations that support them will move into the bank’s headquarters in Edinburgh and RBS plan to launch four more in the next twelve months.

It is backed by both the UK and Scottish governments and aims to be the ‘centre of excellence’ by providing free space expertise at an expanded Entrepreneurial Spark “hatchery” for start-ups at Gogarburn.

Louise Smith, Head of Design in Personal and Business Banking at RBS, and also a UK government fintech representative, says that the fintech sector has “huge potential for our economy”. It is essential that these entrepreneurs are given all the support they need to ensure Scotland is at the heart of the fintech revolution, she adds.

Entrepreneurial Spark Chief Executive, Lucy-Rose Walker, says: “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, Nicola Sturgeon adds that she was delighted that the Entrepreneurial Spark hub was expanding for fintech start-ups.

She continues: “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 international.”

By Clare Ruel

 

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