🚀 Orbex raise, Whisky Launch, New Net Zero Cohort, New Scottish EDGE Categories
Here's your Campfire for the 3rd of February, 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
💰 Forres-based rocket startup Orbex raised £23M to support its first orbital launch from SaxaVord in 2025. The funding round, led by the UK government, will accelerate development of its low-carbon rocket. Other investors include Denmark’s EIFO and Octopus Ventures. Proactive NBC DGT
📢 The Net Zero Technology Centre (NZTC) has selected 11 startups for its 2025 TechX Clean Energy Accelerator, supporting innovations in hydrogen, CCUS, and renewables. The programme provides funding, mentorship, and industry access. Startups like Protonera, Global OTEC, and Plasma2X will develop solutions ranging from low-carbon hydrogen to ocean thermal energy. The 18-week programme concludes with a Demo Day for investors. DGT
🥃 Edinburgh-based Tailored Spirits Co. (who won £100k in Scottish Edge last year) has launched “The Experimental Series”, a new whisky range with travel-inspired labels and collectible lab tickets. SBN
🥇 ScotlandIS has announced the finalists for the 2025 Digital Technology Awards, celebrating innovation across Scotland’s tech sector. Now in its 15th year, the awards have a new category for “Outstanding IT Managed Service Provider”. Finalists include Inicio AI (conversational AI tech), Mealzo (Food delivery service), and Aberdeen-based DeepMiner (AI and machine learning (ML) for data analysis and decision-making). FS DGT
📈 According to KPMG’s latest Venture Pulse report, VC investment in Scottish start-ups rose 14% in Q4 2024, reaching £92.3m, up from £80.9m in Q3. Edinburgh’s life sciences and tech sectors, led by Resolution Therapeutics’ £67m round, drove the increase. Across the UK, VC funding hit £15.5bn for the year, with £4.4bn raised in Q4 alone, keeping the UK the top VC investment destination in Europe. SFN IN DGT
🏆 Scottish EDGE applications are open for round 25 until February 27 with £1.5m in loans and grants up for grabs. This time there are two new awards: The Mission EDGE Award, backed by Scottish Enterprise, offers up to £150,000 to “businesses that support Scotland’s energy transition, high-growth industries, and productivity”. The Techscaler Young EDGE Award provides £15,000 to “top tech founders under 30”. The live final takes place on May 9. TS DGT
📣 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.
📈 Growth mentoring for businesses with £1m+ rev: Baclays Eagle Labs is offering a new mentoring programme for companies who are at seed/series A, and are growing between 10-20% per year who’ve crossed that milestone. More info here.
👭 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!
The benefits of building a spinout
By Robert Gelb in partnership with Johnston Carmichael
Last week we explored several ways in which university spinouts often struggle to get off the ground, and how several factors contribute to spinout challenges even compared with other types of startups.
When I spoke with Shaun Millican, Partner and Head of Business Advisory and Technology & Life Sciences at Johnston Carmichael, he was keen to stress that there are also elements of spinouts that give them a potential advantage over other kinds of startups.
Space and time to think
Often with new commercial businesses, the amount of data one usually can work with is little to nonexistent. Much as we like to stress data-driven decisions, as any founder will tell you, operating on a hunch plays an outsized role in the early days of your startup. "With spinouts," Shaun explains, "you may have the benefit of looking critically at what the commercial opportunities are for your proposition before taking initial funding and burning through somebody else's cash." Effective university innovation programmes are able to efficiently help with this.
Natural exposure to a network
Developing a commercial proposal within a university setting can also give you a leg up with name recognition and awareness from the larger market. Shaun points to two crucial elements for a successful startup: financing and commercial know-how: "When a company is spinning out of a university, there's naturally a lot of investor activity, which can make it easier to set up meetings and conversations. Spinout founders often have access to a wealth of commercialisation knowledge within the university-base more generally."
It’s up to the founder to maximise their benefit
Taking advantage of these opportunities is key to any spinout founder or prospective founder to make the most of their university's institutional benefits. Successful spinouts have been those who combined the drive to move with purpose and speed, with the practical, commercial, and reputational advantages that come from developing within a university environment.
Shaun's position is clear when it comes to how he sees universities' role within the wider startup ecosystem, "Our universities are hotbeds of innovation. If we're going to grow our economy and develop a domestic sense of innovative startups in Scotland, you have to supercharge it."
Stay tuned for next time, we'll go into the common founder mentalities that Shaun and his team see, as well as tips for spinout founders.
This is part two of a three-part series of articles covering university spinouts, written in partnership with Johnston Carmichael. The first part, about the the challenges and opportunities faced by spinouts can be found here. 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 Shaun and the team for a chat here.
📅 Events
🙋🏻♂️ 04/02, 10:00 🗺️ Online: Online Office Hours with Digital Dairy Chain: Michael Christian: This event is open to anyone in the Scottish tech community, whether you’re a founder, aspiring entrepreneur, or simply curious about the industry. MORE INFO
💰 04/02, 10:00 🗺️ Online: Webinar: Fundraising from US investors: This webinar is an opportunity to hear directly from Alexander Lamley and Laura Donald as they walk you through how to approach fundraising from US investors. Areas they will cover during the webinar include: Basics on US Securities laws, UK vs US differences, and ASAs vs SAFEs. MORE INFO
👋 04/02, 17:30 🗺️ Edinburgh: Tech Meetup Edinburgh - February 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
🤖 04/02, 17:30 🗺️ Edinburgh: Data Science + AI Meetup: Join us for networking and talks on Generative AI for 3D images + The role of the modern data analyst. MORE INFO
💼 04/02, 18:30 🗺️ Online: Selling Online series - administration & accounting for ecommerce - onlin: Learn about selling online as a great way to start, diversify or grow a retail business – and anyone can do it! MORE INFO
☕ Series: Unfiltered: Open to everyone, join CodeBase to connect with members of the local tech community. Come for a coffee, networking and build connections. Hotdesking is available after the event, but needs to be booked and paid for at reception.
⛾ 05/02, 08:30 🗺️ Aberdeen, MORE INFO
⛾ 05/02, 08:30 🗺️ Stirling, MORE INFO
⛾ 05/02, 08:30 🗺️ Dundee, MORE INFO
⛾ 05/02, 08:30 🗺️ Edinburgh, MORE INFO
⛾ 05/02, 08:30 🗺️ Glasgow, MORE INFO
⛾ 05/02, 08:30 🗺️ Inverness, MORE INFO
🎯 05/02, 12:00 🗺️ Edinburgh & Lothians: AccelerateHER & Techscaler Meetup: Edinburgh & Lothians: For women and non-binary folk in the tech startup world this is even more vital - ensuring you have a network to turn to as you hit each milestone, and when you want to give back to the next wave of inspiring women and non-binary entrepreneurs. MORE INFO
🤝🏻 05/02, 17:30 🗺️ Gretna: Business & Community Networking (Gretna): Join us at a town near you for one of our informal networking sessions, open to all! Find out all about SOSE and what we can do for you. MORE INFO
✏️ 06/02, 09:30 🗺️ Edinburgh: Understanding co-ops (Edinburgh): Learn how becoming a co-op could help your business thrive at this free Edinburgh workshop hosted by Co-operative Development Scotland. MORE INFO
🚀 06/02, 11:00 🗺️ Hawick: Pathways to Success – Time to Talk, Celebrate & Connect: Join us for the Pathways to Success networking event. Open to all! Connect with inspiring, new and established businesses. MORE INFO
🌐 06/02, 17:30 🗺️ Edinburgh: nocode.scot meetup #17: This meetup is about who gets to build software. Being able to build software is a huge advantage in life, and for the most part that advantage belongs to a tiny fraction of the world's population. MORE INFO
🤝🏼 06/02, 18:00 🗺️ Glasgow: Tech Meetup Glasgow - February 2024: Join us at Civic House, Glasgow on the first Thursday of each month for our free event featuring two talks on tech with soft drinks and pizza. MORE INFO
🌱 10/02, 15:30 🗺️ Dumfries: Seeding Enterprise across our Communities workshop - Dumfries: Two-day course aimed at exploring early stages of starting a business aimed at women and under-represented groups in our communities. MORE INFO
⚡ 10/02, 18:30 🗺️ Online: 5-Day Digital Marketing Challenge: Ready to boost your digital marketing? Join our 5-day digital marketing challenge with MAAI Marketing & Digital! MORE INFO
🚀 11/02, 10:00 🗺️ Online: How Scottish Space Technologies can support the FS Sector in Denmark: Join this webinar and find out how Scottish Space Technologies can support the Finical Services Sector in Denmark. MORE INFO
🛒 11/02, 10:00 🗺️ Edinburgh: Go-To-Market Without the Gamble: How to Validate Before You Execute: Learn how to build, and develier against, an effective Go-To-Market strategy. MORE INFO
📍 11/02, 10:00 🗺️ Online: Navigating telecoms investment in Scotland: This session will provide investment advice and insights to start-ups looking to enter the telecoms market or seeking funding to develop their applications for the telecoms market. MORE INFO
🎯 11/02, 12:00 🗺️ Thornhill: Pathways to Potential: Women in Business and Tech: Inspiring women to lead the way in business and technology across Dumfries and Galloway. MORE INFO
✌️ 11/02, 18:00 🗺️ Edinburgh: Startup Founders Meetup - February 2025: Tactical fireside chats with experienced entrepreneurs and speed networking with other founders, potential cofounders, and investors! MORE INFO
🌐 11/02, 18:30 🗺️ Online: Selling Online series - Reporting & analytics for ecommerce - online event: Learn about selling online as a great way to start, diversify or grow a retail business – and anyone can do it! MORE INFO
🌱 12/02, 09:30 🗺️ Duns: Seeding Enterprise across our Communities workshop - Duns: Two-day course aimed at exploring early stages of starting a business aimed at women and under-represented groups in our communities. MORE INFO
♾️ 12/02, 12:30 🗺️ Edinburgh: Edinburgh Neurodiversity Meetup: February: This meetup is for anyone in the tech startup scene who is neurodivergent or interested in learning about neurodiversity. Open to everyone. MORE INFO
💼 12/02, 13:00 🗺️ Eyemouth: Business & Community Networking (Eyemouth): Join us at a town near you for one of our informal networking sessions, open to all! Find out all about SOSE and what we can do for you. MORE INFO
🤔 12/02, 18:00 🗺️ Glasgow: Curio 02: Our second evening of inspiring talks based around our core theme of curiosity and creative thinking. MORE INFO
💰 13/02, 10:00 🗺️ Online: Selling Your Business Masterclass: Do you have a business succession plan? Join our free webinar to learn about selling your business to an employee ownership trust. MORE INFO
💼 13/02, 10:00 🗺️ 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
👨💼 13/02, 10:30 🗺️ Edinburgh: Edinburgh Professionals Quarterly Networking - Thurs 13th Feb: We wanted to bring together our local professional network, here in Edinburgh, as a way of introducing them to each other. MORE INFO
🔗 13/02, 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
🍺 13/02, 18:30 🗺️ Edinburgh: Edinburgh - 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
🎯 14/02, 10:00 🗺️ Online: Online Office Hours with Digital Dairy Chain: Michael Christian: This event is open to anyone in the Scottish tech community, whether you’re a founder, aspiring entrepreneur, or simply curious about the industry. MORE INFO
🌎 18/02, 10:00 🗺️ Edinburgh: Globally Connecting Conference: The Globally Connecting Scotland conference is a premier gathering designed to inspire, connect, and empower senior executives, investors, entrepreneurs, and policymakers. With a philosophy rooted in the values of the Scottish Business Network, the event will focus on leadership, innovation, international collaboration, and climate action, alongside additional dynamic activities to foster networking and collaboration. MORE INFO
🚀 18/02, 10:00 🗺️ TBA: Marketing Bootcamp for service-based businesses: Want to solve your Marketing headaches? Reach a bigger audience, create a bigger impact? This FREE Marketing Bootcamp is for you! MORE INFO
💰 18/02, 10:00 🗺️ Glasgow: Investor Ready Workshop: Scaling innovative businesses through investment: Join Potter Clarkson and Thorntons for this in-person workshop to get investor ready at Barclays Eagle Labs Glasgow. MORE INFO
♀ 18/02, 18:30 🗺️ Online: Women in Business - Online Programme: A 5-week pre-start and early-stage online business programme for women. MORE INFO
💼 19/02, 10:00 🗺️ Wigtown: Business & Community Networking (Wigtown): Join us at a town near you for one of our informal networking sessions, open to all! Find out all about SOSE and what we can do for you. MORE INFO
🦾 19/02, 17:00 🗺️ Online: AI for Marketing 101: This online event is designed for tech startup founders, co-founders, or small teams aiming to kickstart their marketing efforts or explore how to embed AI into their current marketing processes to support a lean approach. MORE INFO
🌐 19/02, 17:00 🗺️ Aberdeen: From Aberdeen to the World:Raising $65m+, Scaling Globally & Exiting- Chris Herd: Startup Grind Aberdeen is excited to welcome Chris Herd, one of Aberdeen’s most successful entrepreneurs, for an exclusive fireside chat. Chris will share his inspiring journey of building a global business, raising over $65 million in funding, scaling internationally, and successfully exiting to pursue new ventures. MORE INFO
🥼 20/02, 10:00 🗺️ Alloa: MedTech Expo: Accelerating MedTech Innovations and Investments: This event will bring together a diverse range of professionals, companies, researchers, innovators, and both new and established tech-led businesses from the Medtech sector. Attendees will include key players in medical device manufacturing, healthcare technology, digital health solutions, and biotech. MORE INFO
💼 20/02, 10:00 🗺️ Online: Online Office Hours with HubSpot for Startups: Meet with HubSpot for Startups for personalised advice on how HubSpot for Startups can help you! MORE INFO
🎙️ 20/02, 18:00 🗺️ Glasgow: Bits & Bytes Series - Andy McMahon & Mark Wilkinson: Don't miss out on this exciting opportunity to learn and connect with like-minded individuals in our vibrant & growing AI community! MORE INFO
🧠 21/02, 10:00 🗺️ Edinburgh: Good Ideas: Catalyst: Catalyst is the perfect way to explore the potential of a new idea for social or environmental change. If you’re an early-stage innovator, in need of a change of direction or just passionate about finding a way to address a cause, Good Ideas: Catalyst is an entry point for you to explore the feasibility of a new idea. MORE INFO
💪 22/02, 10:00 🗺️ Edinburgh: Makers gonna make - Episode 5: Our monthly event puts emphasis on building, hacking and tinkering with other like-minded makers, followed by an opportunity to present what you did in a community where we help each other, we value honest feedback and help hold each other accountable. MORE INFO
⚡ 25/02, 10:00 🗺️ TBA: Marketing Bootcamp for product-based businesses: Want to solve your marketing headaches? Reach a bigger audience, create a bigger impact? This marketing bootcamp is for you! MORE INFO
🎯 25/02, 18:00 🗺️ Dundee: Dundee Data Meetup: February 2025: Whether you're a data practitioner, a student, or simply interested in how data shapes our world, come along and be part of our growing community! MORE INFO
🤔 26/02, 10:00 🗺️ Online: Understanding co-ops (online): Learn how becoming a co-op could help your business thrive at this free online workshop hosted by Co-operative Development Scotland. MORE INFO
🤝 26/02, 18:00 🗺️ Edinburgh: Entrepreneurs Social Club (ESC) - Edinburgh Startup Meetup: The social club for founders and aspiring entrepreneurs - skip the talks, presentations and lectures - and go straight to networking! MORE INFO
🚀 27/02, 08:30 🗺️ Edinburgh: ITSX Summit 2025 – Edinburgh: The Summit hosts 280+ IT Leaders, 20+ speakers and 15+ exhibitors. The programme will contextualise the evolution of the service desk and the future of customer experience and IT support with live presentations looking at actionable ways to improve process, operations, observability, and customer experience. MORE INFO
📈 27/02, 10:00 🗺️ Hawick: Expand your Ecommerce business via Online Marketplaces - Hawick: Learn how you can take an ecommerce business to the next level by registering for this one day event. MORE INFO
💼 27/02, 10:00 🗺️ Online: Online Office Hours with Lawrie: Managing and Protecting Your IP: Meet with a Director and Patent Attorney from Lawrie for direct, personalised advice on IP! MORE INFO
🎯 27/02, 10:00 🗺️ Aberdeen: Barclays Eagle Labs at One Tech Hub Drop in Clinic Feb 2025: Drop in and let’s have an open discussion about your business goals and ambition and learn more about how your ecosystem manager here at Eagle Labs can support you and your business here at One Tech Hub. MORE INFO
💡 27/02, 18:00 🗺️ Dumfries and Online: Ideation Workshop – Hybrid Event: Got the seed of an idea for a tech startup but want more guidance on what to do next? Got too many ideas to choose from and want to narrow it down? Not got an idea at all, but are interested in how you could find one? Join us for this interactive workshop which will show you how ‘falling in love with the problem’ can set you up to create an amazing tech solution. MORE INFO
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That’s all for this week - have a great one, and a happy New Year!
Team 🔥 Campfire