In the last five years, Scotland has made a name for itself as a tech leader.

Fuelled by the success of Scotland’s three unicorns, tech vacancies rose to 13% of all available vacancies in 2022 (Tech Nation), and the country’s digital economy is predicted to grow by at least £2.2 billion in annual GVA in the next three years.

Edinburgh’s tech sector alone is currently valued at £5.5 billion, receiving £155 million in VC investment in the first half of 2022.

However, it is the capital’s neighbour, Fife, that is fast becoming a hotbed for tech talent. Responsible for the likes of global tech brands Fortronic and Optos, Fife has a long history of producing outstanding tech talent.

As the UK’s leading provider of staff safety systems, Pinpoint Ltd has reaped the rewards of establishing a business in this picturesque region.

Financially Attractive
With Scotland’s capital rated the fourth most expensive city in the UK, it’s no surprise that tech businesses are looking elsewhere to cut down on costs. Fife offers a reasonable alternative to Scotland’s larger cities, boasting cheaper commercial rates and housing options for staff.

Tech businesses, much like the rocket company Skyrora, are attracted by Fife’s competitive business rates and property sales values. As the cost-of living-crisis hits the UK, coupled with the aftermath of Covid-19, this trend isn’t going anywhere.

Economic Support
Fife tech businesses benefit from access to a range of loans and funding, supporting development and innovation in the sector. Grants from the likes of the Fife Trade Development Programme, the Scottish Growth Scheme and SMART: Scotland seek to boost ambitious tech projects and get ideas off the ground.

One such example is the Kirkaldy-based health tech firm MedPoint, which in 2021 received funding from Umi Debt Finance Scotland to progress the rollout of its prescription collection kiosks, which look set to reduce stress on pharmacists and the NHS.

Supporting tech companies through advisory services, investment, and grants, Fife Council also boosts innovation and economic growth to start-ups established in the area.

Strong Foundations
Tech start-ups in Fife benefit from a fruitful history of tech business success. With the likes of businesses such as Fortronic, Ember Technology, and of course Pinpoint ltd, already established in the region, entrepreneurs looking to base themselves in Fife have access to a flourishing tech ecosystem.

A Budding Tech Workforce
With Fife College and the University of St Andrews within the vicinity, plus several reputable universities within an hour’s distance, tech businesses in Fife have access to a wealth of new talent to swell their ranks.

Digital, Computing and Cyber courses are in demand across Fife, providing young people with the specialist computer science and digital media skills required for positions in tech.

Moreover, strong partnerships between Fife Council, Skills Development Scotland and Fife College ensure a cohesive employability service for Fife and develop the skill base for a thriving local economy.

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This fresh, young talent is vital for the evolution of a business and the success of Scotland’s tech sector at large.

Well Connected
Perfectly located just an hour’s commute from Scotland’s two largest cities, Edinburgh and Glasgow, Fife is ideally placed to reach the country’s central population belt and beyond.

The close location to Dundee, Aberdeen, Glasgow and Edinburgh allows tech businesses in Fife easy access to customers, suppliers, collaborators and global investors. The Kingdom of Fife presents a unique opportunity for ambitious tech companies looking for high growth in 2023. With its lower costs, networking opportunities and access to talent, this lesser-known area of Scotland is fast becoming the destination for tech entrepreneurs.

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