Royal Bank of Scotland has joined forces with an accelerator focused on developing advanced technologies.

The partnership will see the bank and STAC, based in Glasgow, combine resources to open up domestic and international market opportunities.   

STAC, based at ‘thebeyond’ in Finnieston, is Scotland’s first “smart things” accelerator, and in September launched the nation’s first deep tech accelerator, Infinity G, with the University of Glasgow.

The programme provided expert guidance on product development, talent acquisition, regulatory compliance, and securing investment, ensuring each venture is primed for market success with validated customers.  

The collaboration is being delivered at STAC through the RBS Accelerator, which is based in Glasgow city centre, and supports entrepreneurs to grow and scale their business.

Darren Pirie, head of NatWest Group Accelerator, said: “This year marks the 10^th anniversary of Accelerator and we’re excited by the potential our partnership with STAC can offer to the deep tech sector.

“In our accelerator hubs, we’ve seen a whole host of businesses secure investment, grow their teams and move into other markets. This partnership here in Glasgow extends that opportunity to a valuable industry.” 

STAC’s CEO Paul Wilson said: “In three years, STAC has developed into a leading and advanced technology scaler.

“With the successful launch of our investment syndicate in December, we now offer a unique full-suite model that encompasses mentorship, co-working, talent acquisition, and an investment platform.”  

“We are ready to kick on from here to position Scotland as a leader in Deep Tech, and the partnership with Royal Bank is strategically focused around our next steps of internationalisation. 

“We are now collaborating on raising more investment, connecting our startups to corporates, and expanding our footprint.  STAC and ‘thebeyond’ in the centre of Edinburgh is now under careful consideration.”  

The new partnership coincides with appointments to STAC’s board, with Richard Lewis joining as chair.

He is a highly experienced non-executive director and chairman who has advised multiple Scottish tech startups and scale-ups in recent years. Scottish Equity Partners investment director Andrew Davidson joins as non-executive director.   

STAC is supported by a range of UK and international corporates, including Pelion, Plexus, and Keysight, and the technology accelerator announced its latest industry partnership in June, to provide an innovation pipeline for Swedish carmaker Volvo Cars, a pioneer in the electric vehicle (EV) market.