Filament STAC has announced the backing of a series of major tech giants from the US to create an IoT cluster in Scotland.
US firms Twilio, Plexus Corp., Intel Corporation, Keysight, and Arrow Electronics are among the global tech brands supporting STAC to create the Scottish cluster.
The latest backing supports the 18-month accelerator’s target to produce Scottish IoT companies capable of scaling and competing on a global level, with a three-year target to create more than 25 IoT companies supporting around 750 jobs.
Projected revenue in Scotland could be around £750 million, with cohort companies raising investment of more than £100 million, Filament said.
The accelerator is supported by Scottish Enterprise, CENSIS and Glasgow-headquartered product design firm Filament. STAC’s local partners in Scotland include Anderson Anderson & Brown, Burness Paull, Scintilla, Arceptive, Soben, Integrated Graphene, and Beringar
Commenting on the announcement, Paul Wilson, CEO of Filament STAC, said: “It is a testament not only to our own ambitions for STAC, but more importantly for tech groups of the stature of Twilio, Plexus Corp, Intel, Keysight and Arrow to believe in our mission and get behind the plan to build globally competitive IoT companies from a base in Scotland.
“Companies whose products are engineered and made in Scotland, with access to industry leaders’ support from individuals and companies alike. Essentially, we are creating a IoT tech cluster here in Scotland.”
More tech firms are set to sign up in the future. There will also be benefit-in-kind partnerships, such as tech companies licensing software or technology to STAC and the cohort of companies, in return for a partner spot on the accelerator.
Sponsorship funding, both from local and international partners, along with the funding from Scottish Enterprise, is required for STAC to operate. According to Filament, there will be an ongoing exercise to attract more sponsors.
Angela Forbes, IoT Account Executive, UK and Ireland, Twilio, added: “We are really looking forward to supporting all the great work Filament STAC is doing to support local startups on their journey to becoming tomorrow’s best-known brands.”
Ronnie Darroch, Executive Vice President and Regional President for EMEA at Plexus Corp, and Non-executive Chair of STAC, said: “We are delighted to be involved in STAC as Scotland is renowned for its contributions to entrepreneurialism and innovation.
“We look forward to providing support for the next generation of innovators and disruptors that will create the products that build a better world.”
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