🚀 Aurora Avionics raise, new Scottish AI strategy, Clyde Hydrogen breakthrough, multiple startup showcases
Here's your Campfire for the 31st of March, 2025.
💼 Johnston Carmichael are a leading accountancy and business advisory firm, with offices throughout Scotland, in Newcastle and London. A partner owned firm for over 85 years, they have grown to offer core and specialist services to business of all sizes. With specialist sector teams, they are fast becoming one of the most trusted advisers for entrepreneurs, founders and businesses that are successfully scaling. Talk to the team today to discuss what growth stage your business is at.
🌊 Updates
🚀 Edinburgh-based space tech company Aurora Avionics has secured £500,000 in investment from Kelvin Capital, Gabriel, and Scottish Enterprise to advance its launch guidance technology. The funding will support hiring new engineers, expanding operations at the Royal Observatory in Edinburgh, and “furthering development its innovative solutions aimed at reducing the cost of space access”. TH SBN IN
🤖 Scottish Business Minister Richard Lochhead has confirmed that Scotland’s AI strategy is being “refreshed” to address both the opportunities and risks of AI, with a focus on aligning with EU regulations and the UK’s evolving stance. FS
💊 Glasgow-based Kelso Pharma has secured £140M in acquisition funding. The funding, backed by Apposite Capital and Kartesia, supports the firm’s growth across the UK and Europe, including its recent acquisition of ALTURiX. SBN IN
💰 The UK’s Innovation Accelerator programme has received a £30M funding extension to support locally-led innovation in Glasgow City Region, West Midlands, and Greater Manchester. Led by Innovate UK, the programme’s been extended and expanded beyond its original 2025 end date. DGT
🎯 Early-stage tech firms from the University of Edinburgh’s Venture Builder Incubator (VBI) and AI Accelerator (AIA) showcased their innovations in Edinburgh to investors and ecosystem partners. Winners included Nooku, a Glasgow-based air quality monitoring device, and Leafstory, an AI companion for dementia patients. DGT
⚛ Glasgow-based startup Clyde Hydrogen Systems has achieved continuous hydrogen production with its “Beta” prototype. The spin-out from the University of Glasgow’s School of Chemistry now aims to develop a fully integrated system by late 2025. IM TH
✈️ UK-based Global Airlines will launch its inaugural flight from Glasgow to New York’s JFK on May 15, using a refurbished A380 operated by Hi Fly. YN
🏆 RGU’s seventh Startup Accelerator Showcase awarded £13,000 to That Conversations Movement for community impact. Other winners included InGlaze for innovative glazing (Insulation), IM Innovation for AI-driven food waste reduction, and Poseidon Rescue for life-saving tech. The programme, backed by UKSPF funding, has launched over 130 startups. AGCC
📣 Asks & Offers
🚨Start to Scale by Shepherd and Wedderburn is offering eligible subscribers of Campfire exclusive access to their ‘Start to Scale Hub’ which helps companies create template legal agreements in minutes for free. To learn more and request access click here.
👔 Firstport is hiring a Growth Advisor (part-time, 2-year contract) and an Investment Associate (full-time, permanent) to support social entrepreneurs scaling their impact. Both roles are home-based with access to the Edinburgh office. Deadlines and more information: Growth Advisor – 28th March, Investment Associate – 9th April.
👭 Interested in connecting with possible co-founders? Fill in your listing on Cofounder Curious today! Connect with others for possible cofounder matching here.
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✍️ Want to write something for Campfire? Have an opinion you'd like to share? get in touch!
💰 Common SEIS/EIS pitfalls and how to avoid them
By Robert Gelb, written in partnership with Johnston Carmichael
Last time, we heard more from Stephen Oates head of Entrepreneurial Tax at Johnston Carmichael, about when SEIS isn't a great fit for companies, and Stephen discussed the importance of ensuring an Advanced Assurance holds up to scrutiny (you can read that piece here). Aside from what we've discussed previously, there are a few additional pitfalls Stephen sees when speaking with founders about SEIS/EIS.
The first is understanding how connections to the company may not qualify certain investors. He says, "Some founders just think because it's an early company, anybody can qualify, but there are tests around connection of the company. An investor (or founder) can't qualify if they have greater than 30% of the share capital. It's not just about the specific investor; their associates must be taken into consideration as well, like close family members. This is a point that is often forgotten."
Another pitfall that Stephen sees is when founders take non-SEIS funding and then try to go for SEIS, "I've seen companies come to us who have had non SEIS funding, and who then say, 'we're now ready to do some SEIS funding because we haven't had it before. We've promised investors the relief because it should be quite vanilla.' And we're forced to point out that unfortunately they fail the gross asset test because they already got £400k of cash sitting in the bank. Once you do something, you can't undo it." This is especially common with taking significant foreign investment before SEIS investment, "If you took that investment after your SEIS, that would likely be fine, but not the other way around. The order in which you do things is so important."
Inherited assets also can cause founders issues, "I've seen situations where a brand new company with a brand new idea, but for whatever reason, bought the trade of another business, and that business is long standing. Unfortunately, in that scenario, you will likely inherit that business’s trading history, and thus their trade commencement date, which could jeopardise your own qualifying stats for S/EIS," Stephen adds.
So what does Stephen suggest? "I always advise anybody that, before they take a step or conclude anything, they should speak to a specialist advisor, even if it's just an initial call. We have a lot of initial general calls that save founders time and headache going forward. If somebody contacts us through the website, and says, 'I'm thinking about x, y, and z, and this is my plan, can we have a call? We'll of course take it if we can. Those calls are free and we are happy to talk generally to client, but due to the risk and complexity can’t be drawn into giving advice at this point."
This is part three of a three-part series of articles covering SEIS and EIS (find part one here and part two here, written in partnership with Johnston Carmichael. Johnston Carmichael is a full-service accountancy and business advisory firm that works with founders and startups (including many spinouts) from pre-launch through exit, and beyond. Find out more information or get in touch with Stephen and the team for a chat here.
📅 Events
💰 31/03, 09:00 🗺️ Glasgow: How to Find Funding in the Low Carbon Sector: Learn about the upcoming 2025 research and innovation funding that’s available through Horizon Europe and other international programmes. MORE INFO
🚀 31/03, 13:00 🗺️ Online: Innovation, Culture and a Growth Mindset: Join this webinar led by John Metselaar and discover how to better engage and empower your people. MORE INFO
🙌 01/04, 09:30 🗺️ Glasgow: Female Founders Co-Working Club - April: Stay inspired, motivated and connected throughout 2025 with the Female Founder Co-Working Club at Glasgow Eagle Labs! MORE INFO
⚡️ 01/04, 10:00 🗺️ Edinburgh: nocode.scot 🧡 Zapier: For this month's nocode.scot meetup, we're going to be taking a deep dive into the world of Zapier. MORE INFO
🕹️ 01/04, 16:00 🗺️ TBA: SGDA presents: Games Talks Live: Short talks and networking for the Scottish games industry since 2019. MORE INFO
💻 01/04, 17:30 🗺️ Edinburgh: Tech Meetup Edinburgh - April 2025: The Tech Meetup is a monthly excuse for the tech community around Scotland to network, learn and share new ideas! Enjoy informative tech presentations from your peers, hear about exciting community projects and create new connections. MORE INFO
☕ Unfiltered: Open to everyone, join us to connect with members of the local tech community. Come for a coffee, networking and build connections, and stay for the hotdesking!
⛾ 02/04, 08:30 🗺️ Inverness, MORE INFO
⛾ 02/04, 08:30 🗺️ Dundee, MORE INFO
⛾ 02/04, 08:30 🗺️ Stirling, MORE INFO
⛾ 02/04, 08:30 🗺️ Glasgow, MORE INFO
⛾ 02/04, 08:30 🗺️ Aberdeen, MORE INFO
⛾ 02/04, 08:30 🗺️ Edinburgh, MORE INFO
🤝 03/04, 09:30 🗺️ Glasgow: Bridging Communities - The Extended Edition: A one-day event to bridge communities, spark connections and inspire action. MORE INFO
🍺 03/04, 18:00 🗺️ Glasgow: Glasgow - Small99's 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
🚀 04/04, 12:00 🗺️ Edinburgh: TTB: WMN <> Robotics: Join us for an evening dedicated to women with a background in robotics and an interest in entrepreneurship. Whether you're an academic, (aspiring) founder, or investor, this event offers an opportunity to meet your co-founder, expand your network & celebrate innovation with like-minded people. MORE INFO
💻 08/04, 11:00 🗺️ Online: How to Engage the Whole Team to Build a Carbon Reduction Plan - Webinar: Understand how to build a credible carbon reduction plan by getting everyone involved to contribute and have a story you can be proud of. MORE INFO
🎙️ 08/04, 17:30 🗺️ Edinburgh: Finding your voice in a digital landscape: Join us for Creative Circles - a monthly meetup of creative conversations, socialising and community updates! MORE INFO
🌍 09/04, 09:00 🗺️ Edinburgh: Tech for Humanity with the British Council: How can technology make the world better? The British Council is hosting a panel discussion and networking event to find out how. MORE INFO
🎯 09/04, 10:00 🗺️ Glasgow: Go-To-Market Without the Gamble: How to Validate Before You Execute: Learn how to build, and deliver against, an effective Go-To-Market strategy. MORE INFO
💼 10/04, 11:00 🗺️ Online: Online Office Hours with Potter Clarkson: Our Office Hours are a series of one-to-one sessions with various experts from the legal and accounting sectors to support tech startup founders on their journey. In this one, participants will be able to engage directly with and receive personalised advice from IP Attornies for Potter Clarkson. MORE INFO
🌐 10/04, 14:00 🗺️ Edinburgh: The Nature of Connection - TetraMap Workshop: At this participative workshop you'll discover the power of TetraMap by trying it out and exploring how you can use it for your own personal growth or for team and organisational development. MORE INFO
🍻 10/04, 18:00 🗺️ Glasgow: Tech Meetup Glasgow - April 2024: All are welcome and there is no requirement to have any level of tech knowledge or experience to attend, just a desire to learn. Come along (bring your friends), network and learn something new with us! MORE INFO
🎯 16/04, 11:00 🗺️ Online: Targeting the US and Australia with your own website 2 part Masterclass: Join this two-part masterclass and discover how to boost your sales in Australia and the US. MORE INFO
🚶 17/04, 09:00 🗺️ Edinburgh: NetWalking in the Park (April 2025): Join this Mindful Netwalking experience: Meet other Founders, enjoying the healthy way to network, inspired by a gentle walk. MORE INFO
📈 17/04, 09:00 🗺️ TBA: Leading With Change: We’re looking for growing companies that want to develop a change project within their organisation. Submit an expression of interest here. MORE INFO
🎥 17/04, 17:30 🗺️ Edinburgh: Founders Live Edinburgh: The ultimate entrepreneurial experience and global pitch competition returns to Edinburgh! MORE INFO
💼 21/04, 11:00 🗺️ Online: Online Office Hours with Henderson Loggie: Meet with the Corporate Finance Team of Henderson Loggie, a leading independent accountancy and business advisory firm based in Scotland. MORE INFO
🦾 21/04, 11:00 🗺️ Online: The AI-Powered Business: How Businesses Can 10x Their Productivity Webinar: The Best AI Tools to Automate Your Workflow and Free Up Time. MORE INFO
🎯 22/04, 13:00 🗺️ Online: The IP Power Hour: IP Essentials for Founders: Join us for a value-packed webinar with Lawrie, where we'll dive into the world of IP! MORE INFO
⛓️ 22/04, 17:00 🗺️ Edinburgh: Blockchain Scotland Meetup: Welcome to the Monthly Blockchain Scotland Meetup at the Bayes Centre in Edinburgh. The event takes place at the ground floor in G.03. MORE INFO
🎯 22/04, 17:30 🗺️ Edinburgh: Edinburgh Can B: All welcome to join, if you are interested in helping create positive change for people and planet in Edinburgh. MORE INFO
🤝 22/04, 18:00 🗺️ Edinburgh: Startup Founders Meetup - April 2025: Tactical fireside chats with experienced entrepreneurs and speed networking with other founders, potential cofounders, and investors! MORE INFO
🍽️ 23/04, 12:00 🗺️ Aberdeen: LUNCH & LEARN EVENT - LEARN HOW TO FRANCHISE YOUR BUSINESS: Discover the ins and outs of franchising your business - let's turn your business into a successful franchise. MORE INFO
📍 23/04, 19:15 🗺️ Edinburgh: Introduction to Improvisation skills at Work with Julia Knight: This session is for people who are interested in people, team, leadership and organizational development and who wants to be share their interest with others. MORE INFO
💬 24/04, 17:30 🗺️ Edinburgh: TestTalks: Edinburgh: Join us at TestTalks: Edinburgh for a evening of engaging discussions and insights on all things testing! MORE INFO
🤝 25/04, 09:00 🗺️ Edinburgh: Founder Friday Coworking: Join us for a day of networking and inspiration! this is your chance to connect with fellow founders, share ideas, and maybe even spark your next big project. MORE INFO
💡 25/04, 09:30 🗺️ Edinburgh: Good Ideas: Camp: Are you passionate about creating change? Whether you're an early-stage innovator or have an idea that you’re unsure how to move forward, Good Ideas: Camp is for you. MORE INFO
🥐 25/04, 10:00 🗺️ Aberdeen: Aberdeen - Small99's People, Planet, Pastry: Meet others interested in sustainability in your community, share local stories and ideas, and accelerate local climate action. MORE INFO
🎤 25/04, 15:00 🗺️ Online: Practicing your Pitch: Storytelling: Our Practicing Your Pitch season is focused on supporting startup founders as they get ready to present their ideas. Through a series of interactive online sessions, we'll be looking at different aspects of pitching and how a good pitch can change the journey of your startup. MORE INFO
🌐 29/04, 10:00 🗺️ Edinburgh: Co-Work Club Edinburgh: Tired of the home office grind but not ready for the daily commute? Say goodbye to crowded coffee shops and the endless search for a quiet Zoom spot. We've got the solution: Welcome to Co-Work Club @ Kimpton Hotel, Edinburgh. MORE INFO
🩺 29/04, 10:00 🗺️ Aberdeen: Barclays Eagle Labs at One Tech Hub Drop in Clinic Apr 2025: Drop in and let’s have a chat about your business goals and ambitions here at One Tech Hub. MORE INFO
🚀 30/04, 12:00 🗺️ Online: Boost Sales & Streamline Operations Webinar: AI can enhance your Shopify store by automating tasks, personalising customer experiences, and optimizing sales strategies. MORE INFO
🥂 30/04, 18:00 🗺️ Edinburgh: Entrepreneurs Social Club (ESC) - April 2025: Skip the talks, presentations and lectures - in favour of going straight to the bar, where real connections are made! MORE INFO
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That’s all for this week - have a great one!
Team 🔥 Campfire