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£22.4mTotal invested in Health tech in 2020
£8bn£8bn turnover in Scotland’s tech sector
12,050The number of digital tech firms in Scotland
Ninety per cent of the globe lacks mobile connectivity. At R3-IoT we have developed a technology that allows organisations operating in these areas to collect and move sensor data directly back to the cloud via satellite.
Our platform allows enterprises to implement new processes and innovations which results in huge savings, reduction in environmental impact, reduction in health and safety risk, gaining new insights and peace of mind. Lack of connectivity has always been a challenge when in remote locations. By solving this problem, we are able to help businesses overcome huge operational obstacles and add real tangible value.
Why did you feel Scotland was a good place to do that?
Scotland is perfect for developing a business like ours. There are a high number of high-value industries that have the majority of their operations in remote and often challenging environments. These locations are underserved by cellular infrastructure, providing the perfect testing ground for us to prove out our concept and our business model while working closely with global companies.
In 2020 we are focussed on a number of key markets where we are able to add a huge amount of value with our technology while growing our business. Our primary vertical is aquaculture and more specifically Atlantic salmon. Aquaculture in Scotland is a £1.6bn market with targets to grow to £3.0bn by 2030; it is a huge growth industry globally.
MoneyMatiX tackles financial inclusion and financial literacy by providing parents and children with tools to set, manage and monitor their financial goals throughout important life moments. We do this via our Kuza tools; Kuza means ‘to grow, nurture and blossom’ – core concepts of our business. We are on a mission to transform lives by creating financially capable communities.
What changes do you feel your company has brought about in your region/the UK/the world?
For a long time, financial education has been neglected, leaving young people without a practical understanding of managing money properly, which is such an important life skill. Our app and workshops allow adults to transform and improve their own financial habits in a way that is visual. It’s also exciting for young people to see healthy money role models in practical use cases.
We have created tools that give practical, fun and relevant teaching moments to spark financial conversations, allowing even the least knowledgeable adult to role model good money habits.
How could Scotland be better prepared for your business growth/ scaling?
Access to more smart capital is a challenge for most startups in Scotland. The amount of money that investors make available for startups is much less than cities like London, and it becomes even less when compared to the US. Access to smart investment capital would go a long way in helping growth and scaling.
Amy Williams & Daniel Winterstein CEO and CTO, Good-Loop
How does your business support its cause?
At Good-Loop our mission is to make social impact easy and profitable for massive global brands. We have built an ethical ad platform which distributes advertising on websites and social channels around the world.
Every time someone chooses to watch, swipe or click on one of our ads, the user unlocks a free donation, funded by the advertiser, and can pick a charity or project to support. In an industry worth $600bn, we make advertisers put their money where their mouth is and that’s why Keith Weed, the ex-CMO of Unilever, called Good-Loop a true ‘win-win’ for consumers, causes and companies.
Why did you decide to set up your company in Scotland?
The startup scene in Scotland is an incredibly supportive and collaborative environment. It’s a tight network of well-informed investors, impressive technical talent and valuable expertise, fuelled in part by the strategic and financial support of Scottish Enterprise. Good-Loop has really thrived in this environment.
What are the challenges you are facing in your business?
The advertising industry is mature and well-established, with some massive global players. Our challenge is being heard through the noise and carving out an ownable piece of the pie – all while working on a shoestring budget! We’re always looking for new ways to grow our network and spread the word about Good-Loop, and that’s why PR opportunities, events and introductions are so valuable to our business.
External support for founders
Our curated picks of support for founders in Scotland
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