Published 22/11/2023
Since its launch in 2008, technology investor showcase, Engage Invest Exploit (EIE), has helped over 540 data-driven tech companies raise more than £1.5 billion in funding from seed to series A.
In April 2022, the first Engage Invest Exploit (EIE) event ever hosted outside of Scotland, the EIE London Innovation and Investment Showcase, took place at the London Stock Exchange (LSE) and was hosted by Scotland's First Minister Nicola Sturgeon.
The London event was a key fixture in the 2022 EIE Investor Readiness Programme, delivered by the University of Edinburgh's Bayes Centre. The event was supported by the Scottish Government's Ecosystem Fund in connection with the Scottish Technology Ecosystem Review in 2020.
Scotland's First Minister Nicola Sturgeon at EiE London Innovation and Investment Showcase, London Stock Exchange (LSE). © EiE/Layton Thompson
Commenting on the event, First Minister Nicola Sturgeon said: "Scotland is moving with vigour towards a high tech, low carbon economy and developing capabilities in emerging markets - including renewables, fintech, and cyber security - while our leadership around global priorities like net zero positions our tech sector to make the most of the opportunities for economic growth that a Just Transition presents."
"Today's showcase demonstrates exactly the kind of innovation that ambition leads to and fills me with optimism for the future. The ties between London and Scotland's tech ecosystems enable easy access for investors to leading edge Scottish companies via the City and, vice versa, companies based in Scotland can access the opportunities the City presents in order to maximise the sector's potential and capacity to drive growth and job creation."
The event also included keynote addresses from The 693rd Lord Mayor of London, Vincent Keaveny and London Stock Exchange CEO Julia Hoggett.
The 693rd Lord Mayor of London, Vincent Keaveny, said: "Encouraging innovation is essential to the continuing success of our financial and professional services sector. The success of innovative firms and ecosystems outside the capital is a key part of our international appeal. Strengthening links between London and Scotland's thriving tech pipeline will help to drive investment and growth. I look forward to continuing to develop the partnership we have with colleagues in Scotland to the benefit of us all."
EIE alumni companies include Scotland's first tech unicorn, fantasy sports site FanDuel; healthtech scale-up Current Health (acquired for $400 million by US consumer electronics group Best Buy in 2021); and agritech specialist Intelligent Growth Solutions (IGS) which announced a £42.2 million Series B funding round on the occasion of Scotland's Green Innovation and Investment Showcase, run jointly by EIE and Scottish Enterprise, at COP26.
IGS is one of the Scottish technology companies that featured at EIE London, alongside ultrasound sensor specialist Novosound, facial animation scale-up Speech Graphics, and online brand protection business SnapDragon.
The alumni companies presented to a panel of investors - including Amadeus Capital, Playfair Capital, NatWest Group and RBS, Galvanise Capital, and Scottish Enterprise Growth Investments.
David Farquhar, CEO, Intelligent Growth Solutions, said: "IGS is delighted to have been identified as one of Scotland's most innovative companies. Despite the obvious challenges of the last two years, through the pandemic our business has gone from strength to strength.
"We have developed a sales pipeline of more than £100 million, over 95 per cent of which is export, and our team has expanded from 25 to 160 people. Our central ambition is to have a positive impact across the globe. People come to work here to help find ways to tackle the climate crisis and feed the world, while aiming for net zero, and we now support local farmers and food supply chains across four continents."
Ecosystem partners represented at EIE London include Scottish Enterprise, Scotland Development International (SDI), Scottish Financial Enterprise, the British Business Bank, and the Earthshot prize.
To learn more about EIE visit - www.eie-invest.com