Jamie Coleman discussed building a tech ecosystem in Scotland. Scotland has a long history of inventions and innovations but now faces challenges from declining oil prices. However, Scotland has strong universities producing tech talent, and cities like Edinburgh have growing tech hubs with successful startups like Skyscanner and FanDuel. To further strengthen the ecosystem, Scotland needs increased investment funding, skills development programs, and policies to attract entrepreneurs.

1. Jamie Coleman!
Managing Director!
@CodeBaseTech!
!
!
European Entrepreneurship & Innovation @ Stanford Engineering!
January 12 2015!
Building a Tech Ecosystem in Scotland!

3. Sample of Scottish Inventions!
James Watt’s Steam Engine!
Penicillin, Anaesthesia, Telephone,
Television, Bicycle,
Electromagnetics, Insulin, Radar,
Tubular Steel, Coal Gas Lighting,
Wave Powered Electricity, Iron
Hulled Steam Ship, Steam Hammer,
Hot Blast Oven, US Navy, SAS,
Cordite, Postage Stamp, MRI
Scanner, Ultrasound Scanner, Higgs
Boson, Fingerprinting, Modern
Economics, Geology, Logarithms,
Decimal Point, Golf, Hypodermic
Syringe, X Ray, Beta Blockers, EKG,
Refrigerator, Flush Toilet, Bank of
England, Bank of France, Color
Photography, First Cloned Mammal
(Dolly the Sheep)!

6. Effects of Current Oil Prices!
• Scottish oil sector is vulnerable to downturn!
• Ageing oil fields with old equipment: more expensive
extraction!
• New fields are in deeper water, requiring new tech for
difficult geology!
• The industry has diversified into service and subsea
specialisms but those exports also at risk!
• 50 fields produce oil under $10 barrel but 19 fields cost
over $30 barrel!

15. Diversified Economy!
Oil and Gas!
Fishing!
Renewables!
Electronics!
Construction!
Whisky!
Textiles!
Banking!
Life Sciences!
Tourism!

17. Tech Ecosystem Recipe!
Multinationals!
Universities!
Nerds!
Lifestyle and culture!
Homegrown success!
Investment!
Entrepreneurial density!

18. UK’s largest and best computing science and
informatics department in last two RAE!
Over 500 staff, 44% larger than nearest competitor!
More world-leading (4*) research than anyone else
in the UK - 69% more than nearest competitor!

19. Edinburgh Tech Ecosystem
• Skyscanner billion $ valuation Sequoia Capital!
• Rockstar North GTAV >$1 billion first 3 days!
• FanDuel just raised $70M set to become next
billion dollar tech company in Edinburgh!
• Amazon, Cisco, Oracle, Microsoft, IBM etc!

24. The engineering talent of the Scots
has moved from building bridges
and steam engines to building
software!

29. Scotland is a great place to
launch a startup!
• Unparalleled tax incentives SEIS/EIS!
• Staff retention!
• Big fish in a small pond!
• Lower costs (healthcare etc)!
• Investor patience!
• Great education system & talent pool!
• Real safety net!

30. Difficulties!
• Angel networks who don’t understand tech (capital preservation)!
• We only have 2 local Venture Firms!!
• We lack a core of growth companies in £5-50M range!
• Tech transfer from Universities is not good enough!
• Over reliance on public sector!
• Raising risk capital is extremely difficult, especially for pre
revenue tech companies!
• Historic lack of product management in software skills!

31. Solutions!
• We need smart, targeted funding. Match money into
Venture Firms and trust them to invest: not directly
in to companies!
• New Funds targeting £500k to £5M investments!
• Skills Academies!
• Visas for entrepreneurs!
• Quality mentorship!

32. What does this mean for
CodeBase?!
• Focus on enterprise B2B!
• Focus on company engineering and rapid growth!
• Create a new Venture Fund in 2015!
• Build skill capacity within the ecosystem!
• Rapidly access international markets!
• Lobby on visas, software industry and skills!

39. Say Hi!
jamie@thisiscodebase.com!
@codebasetech!