Royal Bank of Scotland (RBS) has joined forces with advanced technology accelerator STAC in a bid to supercharge Scotland’s nascent deep tech startup scene.

The partnership will see the bank and STAC combine resources towards STAC’s startups to source investment and open domestic and international market opportunities.

The collaboration is being delivered at STAC through the Royal Bank of Scotland’s Accelerator, which is based in Glasgow city centre, and supports entrepreneurs to grow and scale their business. The partnership will provide businesses operating within the deep and advanced technology sector the opportunity to benefit from Accelerator support.

The relationship with STAC will also extend its specialist skills to the wider Royal Bank Accelerator community, seeking to equip bank colleagues with greater knowledge and understanding of this growing market.

Via the bank’s wider business and customer network, the partnership can also offer investment opportunities to the STAC community.

Darren Pirie, head of NatWest Group Accelerator, said: “As Britain’s biggest bank for startups, we understand that helping businesses succeed, not just through traditional lending but with full wraparound support, is crucial if we want a strong economy.

“That’s why STAC and Royal Bank of Scotland Accelerator play such an important role in helping businesses thrive.

“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.”

Royal Bank of Scotland operates its Accelerator in Glasgow from Queen Street, and this is where the partnership with STAC will be based.

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.”

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“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 new appointments to STAC’s Board with Richard Lewis, a highly experienced NXD and chairman who has advised multiple Scottish tech startups and scale-ups in recent years, joining as chair, and Scottish Equity Partners (SEP) investment director Andrew Davidson joining as non-executive director.

Wilson added: “Getting Richard and Andrew on board is a big win for STAC and all the companies we support and will continue to support, particularly given their track records and acumen around scaling and investing in tech.”