🚲 Zedify and Earth Blox news, investment down, more startups than ever?
Here's your Campfire for the 29th of January, 2024.
💼 This issue of Campfire is sponsored by Shepherd and Wedderburn's initiative to supercharge start-ups and scale-ups. Be sure to follow the Start to Scale LinkedIn page for useful videos and posts designed to help founders.
🚀 What is a startup?
By Robert Gelb
38,313 ‘startup’ firms were launched in Scotland in 2023. A rise of 12.1% from 2022’s 34,168. So what? That number in and of itself could be interpreted in different ways.
Scotland is more entrepreneurial than ever before!
Scotland’s job market is doing so poorly, that it’s driving people to start their own businesses instead.
The endless push for ‘entrepreneurial thinking’ by ecosystem support organisations is convincing people to start businesses even if that’s not the best use of their expertise or abilities.
It could be all or none of these reasons. We don’t know. Looking at numbers like these is like trying to read tea leaves. They are leading indicators, but for what, we cannot say.
The problem with obsessing about leading indicators is when you lack perspective of what the numbers actually indicate. This, unfortunately happens all the time, especially in the cacophony of noise around ‘startups’.
The term ‘startup’ means different things to different people, which is a larger issue than many policy-makers realise. There are different definitions out there, but here’s mine:
A ‘startup’ is an early-stage business that takes a problem or opportunity, and approaches it with a solution that is fundamentally scalable.
An agency is not a startup. An investment fund is not a startup. A restaurant or consultancy firm are not a startups. These are all businesses, many of which could start-out small, and could indeed be far more profitable than a startup might, but to consider them as ‘startups’ muddies the water in terms of the support and advice they might require; their models of acquisition, growth, lifecycle, and operations are completely different.
There were not 38,313 ‘startups’ launched in Scotland in 2023. Some of them could be, others might eventually be, still others will never adopt that title and be wildly successful. Regardless, lobbing all new companies into the ‘startup’ moniker doesn’t help the wider business ecosystem thrive. It just encourages more noise.
Disagree with this? Want to write a rebuttal, or share your views? Get in touch!
🌊 Updates
📉 According to KPMG UK’s latest Mid-market Private Equity report, mid-market private equity investment activity in Scotland fell slightly compared to last year’s record high. IN DGT
🌍 Edinburgh-based Zedify (electric cargo bike delivery service) was announced as one of the 24 cohort companies to make up Tech Nation’s 2024 Climate Programme. DGT
🍃 Edinburgh-based climate-risk company Earth Blox has doubled its customer base over the past six months. SS
🌱 Government-backed business support agency London & Partners has expanded its global growth programme to Scotland and the West Midlands providing more than 100 ‘scale-up’ businesses with support to increase their international presence. UKTN DGT
💰 Business Growth Fund (BGF) invested £33m in Scottish and Northern Irish companies last year and reported five exits. DGT
💡🛈 Get to know some Scottish Startups you might not have heard of yet (via Tech.eu):
🐟 Rooser (Edinburgh): Platform that connects seafood buyers and suppliers, giving them the right tools to trade efficiently, negotiate prices and process deliveries across Europe – all in real-time, 24/7.
👚 Together (Edinburgh): Sustainable and ethical clothes production platform to create a new way for people to shop sustainable yet affordable items, only producing fashion in a special factory after orders have been placed.
🍄 Enough (Glasgow): Sustainable protein Adunda, a high in protein and fibre food alternative which contains all nine essential amino acids and has a neutral flavour that can be used to create plant-based meat, fish and dairy products, from fermenting fungi.
📣 Asks & Offers
🍳 Fancy breakfast? We’re considering piloting a monthly founders breakfast in Edinburgh to meet and get to know one another over… breakfast. Interested in joining? get in touch!
👭 Interested in connecting with possible co-founders? Fill in your listing on Cofounder Curious today! Connect with others for possible cofounder matching here.
✍️ Want to write something for Campfire? Have an opinion you'd like to share? get in touch!
Shepherd & Wedderburn's innovative and personable approach helps companies from first incorporation onwards (including through to an exit – if that’s the goal). Their global reach means they can scale and grow with you, like they have with clients like Epic Games, FanDuel, Parsleybox, and TVSquared.
👉 To learn more, send an email to starttoscale@shepwedd.co.uk & set up a chat.
📅 Events
🥂 30/01, 08:00 🗺️ Glasgow: What's in store for 2024? Glasgow Ecosystem Mixer: We'll dive into interviews with founders, investors, and community champions. Then, it's your time to shine during the community open mic session – share your wins, seek advice, and connect with your fellow founders! MORE INFO
☘️ 30/01, 08:30 🗺️ Edinburgh: Edinburgh GreenTech Meetup: An opportunity for those working in or interested in sustainability, greentech, or climate work to come together and learn from each other. MORE INFO
🔋 30/01, 09:00 🗺️ Aberdeen: Energy Transition Business Improvement Academy: For Companies in the Energy Transition space looking to improve processes to gain an advantage in the renewable energy supply chain. MORE INFO
🤝 30/01, 09:30 🗺️ Online: Online Coworking Session - Week 2: Join us for an accountability session and let's get things done in 2024! MORE INFO
🚀 30/01, 14:00 🗺️ Glasgow: IPHatch UK 2024 Launch : IPHatch® is a transformative, challenge-based open innovation competition that enables emerging deeptech startups to expedite their technology growth journey by integrating impactful, sustainable technologies originated from MNCs into their current business strategy. MORE INFO
🫱🏼🫲🏽 30/01, 18:00 🗺️ Dundee: Dundee Data Meetup: Welcome to the monthly recurring Dundee Data Meetup, a vibrant community-driven event that brings together curious learners, data enthusiasts and professionals to explore the captivating world of data and its applications. MORE INFO
🏬 30/01, 18:30 🗺️ Glasgow: Startup Grind: What's in Store for 2024? Glasgow Ecosystem Mixer: Dive into interviews with founders, investors, and community champions: MORE INFO
⚙️ 31/01, 09:30 🗺️ Galashiels: Inspiring Into Tech [Galashiels]: Session 1 of our Intro to Tech Series - brought to you by South of Scotland Enterprise, SRUC, Borders College & Techscaler. MORE INFO
👨🏿💻 31/01, 11:30 🗺️ Edinburgh: How does a Black Founder create a sustainable business? [Edinburgh]: A discussion with Consolata Ogbebor, Founder at Afro Bite. MORE INFO
🎓 31/01, 16:00 🗺️ Aberdeen: High-Flying Alumni Series: From Idea to Startup: Hear from a range of entrepreneurs on their journey from student to founder: MORE INFO
🌉 31/01, 17:30 🗺️ Edinburgh: Bridging Communities by The Melting Pot: Be part of this transformative gathering. Unleash your potential, connect with like-minded professionals, and contribute to Edinburgh's thriving business community. MORE INFO
♣️ 31/01, 18:30 🗺️ Edinburgh: Entrepreneurs Social Club (ESC) - Edinburgh Startup Meetup: Welcome to our monthly Entrepreneurs Social Club (ESC) gathering - skip the talks, presentations and lectures - in favour of going straight to the bar, where real connections are made! MORE INFO
🍺 01/02, 19:00 🗺️ Aberdeen: Aberdeen - People, Planet, Pint: Sustainability Meetup: Pop down to your local People Planet Pint meetup to find more about what's going on locally with sustainability and how you can get involved. MORE INFO
🤝 06/02, 09:30 🗺️ Online: Online Coworking Session - Week 3: Join us for an accountability session and let's get things done in 2024! MORE INFO
👥 06/02, 17:30 🗺️ Edinburgh: Tech Meetup Edinburgh: The Tech Meetup is a monthly excuse for the tech community around Scotland to network, learn and share new ideas! Come along to enjoy informative presentations from your peers, listen to exciting projects in the community and make some new connections. MORE INFO
☕ Series: Unfiltered: An in-person and informal catch-up and coffee with colleagues and the community!
⛾ 07/02, 08:30 🗺️ Aberdeen MORE INFO
⛾ 07/02, 08:30 🗺️ Dundee MORE INFO
⛾ 07/02, 08:30 🗺️ Inverness MORE INFO
⛾ 07/02, 08:30 🗺️ Edinburgh MORE INFO
⛾ 13/02, 09:30 🗺️ Perth MORE INFO
📈 07/02, 17:30 🗺️ Edinburgh: 2024 Startup Survival Guide: Master your Fundraising, Mindset & Growth: Hear from 3x startup experts on how to make you and your business more resilient: MORE INFO
🍷 08/02, 10:00 🗺️ Edinburgh: SWURF - CoWorking & After Work Wine for Women in Tech: This is the kick off for a series of Co-Working events organised by SWURF. Our mission is to connect people with places, create community and tackle the loneliness problem that comes with remote work. MORE INFO
🤝 13/02, 09:30 🗺️ Online: Online Coworking Session - Week 4: Join us for an accountability session and let's get things done in 2024! MORE INFO
🗃️ 13/02, 13:00 🗺️ Perth: Techscaler Office Hours [Perth]: An opportunity to receive personalised guidance on how Techscaler can support you. MORE INFO
🗣️ 13/02, 17:30 🗺️ Stirling: In Conversation With Harper MacLeod: Join us at CodeBase Stirling, where seasoned professionals from Harper Macleod will share their knowledge into the legal startup world. Gain invaluable insights and inspiration as they share their experiences, providing a roadmap for those navigating the dynamic landscape of legal entrepreneurship. MORE INFO
💼 14/02, 09:30 🗺️ Kilmarnock: Fair Work Workshop: What's the event about? This is a fully funded workshop which will help participating companies to understand the benefits of fair work. MORE INFO
🍳 15/02, 00:00 🗺️ Perth: Scottish Enterprise/SMAS Continuous Improvement Workshop Breakfast in Perth: Join this a breakfast event and develop your understanding of Lean Thinking Principles through interactive exercises. MORE INFO
🎯 Deadlines
🧘 Gearing for Growth and Foras are running a Leadership Renewal Retreat, 21 - 24 March for scaling startup leaders. Applications are open until February 2nd.
📐 The Royal Academy of Engineering’s Enterprise Fellowships: A twelve-month accelerator programme designed to support talented university graduates to transform breakthrough engineering innovations into disruptive engineering and tech spinouts. Grants of up to £75k. Applications close 26 February 2024.
🇬🇧 Upcoming Innovate UK deadlines:
UK and South Korea data driven urban innovation Bi-Lateral Applications close 21 February 2024
Creative Catalyst 2024 Applications close 6 March
Eureka collaborative R&D: Eurostars 3 Call 6 Applications close 14 March
Are we missing your event or deadline? 👉 Submit it here!
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That’s all for this week - have a great one!
Team 🔥 Campfire