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Incubator backing for tenants

Codebase to expand with PwC support

Codebase and PwC

Photo (from left): Lindsay Gardiner, Jamie Coleman, Stephen Coleman, Douglas Shand (contributed)

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CodeBase, Europe’s largest technology incubator, has signed a support deal with business adviser PwC to help accelerate its expansion.

PwC will take up a presence at the Edinburgh-based facility which is home to more than 90 startups.

Codebase CEO and co-founder Stephen Coleman said the agreement will help it expand operations at Argyle House at the foot of the Castle rock and provide support for tenant companies.

It is likely to take another floor in the building to accommodate more companies.

Current tenants include Administrate, QikServe, TVSquared and Care Sourcer, employing more than 600 skilled workers.  Occupants have raised more than £400 million since the facility’s 2014 launch.  A Stirling incubator was announced earlier this month.

PwC  head of innovation for Scotland, Douglas Shand, said: “I’ve been involved with a lot of startups and scale-ups and very often they are companies which initially struggle to justify the cost and complexity of a traditional back office function.

“Some of the work coming out of Codebase is cutting edge stuff. It’s fantastic to see the passion and enthusiasm for what’s being created. Stephen and Jamie did a fantastic thing when they set this up and it’s exciting to be involved with it as it goes to the next level from Edinburgh to Stirling and elsewhere.”

Stephen Coleman said: “The partnership with PwC allows us to both accelerate development at Argyle House on our journey to build a tech powerhouse in Edinburgh and for our companies to tap into the firm’s global expertise and networks.”

PwC regional chairman Lindsay Gardiner said: “Professional services is changing and PwC in Scotland has attempted to be at the forefront of that change where it makes sense for our clients and the Scottish economy.

“Many say it’s about wanting to be – or looking for – the next Skyscanner, but to me that misses the point.

“Yes, it’s fantastic that Scotland can produce unicorns and we hope there are many more of them.

“Private businesses are the lifeblood of Scotland and the advice companies get at Codebase is set to help them be amongst the next generation of fast growth and big success firms. Being able to help all of these companies to that level will be a fantastic achievement.

“These companies – and Codebase itself – are making a positive difference not only to Scotland but to people across the globe and it’s exciting to be part of that.”

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