Royal Bank of Scotland identifies 358 untapped Scottish firms

A report by the Royal Bank of Scotland, titled ‘From Innovation to Impact: Translating the UK’s Untapped Innovation Cohort into Regional Growth’, has identified 358 Scottish businesses with significant untapped growth potential. Using Beauhurst data, the report notes that Scottish innovation firms have attracted £6.4 billion in equity investment since 2011.

Scotland currently hosts 1,737 innovative businesses, with 59% having received public funding and 367 originating as university spinouts. The report highlights that Scottish firms outperformed the UK average in commercialisation, with 31% of grant-backed firms securing follow-on equity investment compared to 26% across the UK.

Key sectors for success include life sciences, energy transition, digital technologies, and advanced manufacturing. To unlock further economic growth, the report recommends improving access to growth capital, supporting commercialisation pathways, and assisting firms in building scaling capabilities.