LinkedIn and newspaper business pages are awash with articles claiming to wisely summarise the learnings from the last 12 months, so I’m not going to stand idly by without having my say! But I will at least try to circle back to my day job, which is advising Scottish, mainly Tech-focused companies with tech-enabled business critical services group AAB.
The quantity and quality of scale-up technology businesses continues to increase in Scotland with technology incubators such as ONE in Aberdeen, Codebase in Edinburgh and Stirling and universities such as Heriot Watt, Napier and Strathclyde providing a clear pathway for entrepreneurs to turn their ideas into a business.
At the beginning of 2020, we were expecting this to be another strong year for the Scottish Tech scene, and in particular the Edinburgh ecosystem. Record levels of investment were forecast, and we hoped to see that next generation of young ambitious companies coming through. We're sure the showcase Tech investor event in Scotland, EiE, would have been their best attended in its history, rather than a virtual event as it turned out to be.
2020 will be a year remembered for many ‘unprecedented’ challenges and disruptions across the globe. It could also be said that it will be remembered for not only the increased use of technology, but the significant reliance on it for people and businesses.
2020 has presented monumental challenges to global economies resulting in many people expecting a slowdown in deal volume. However, despite these unprecedented times, deal activity in the tech sector has remained buoyant as both private equity and strategic acquirers continue to seek acquisition and investment opportunities to support their growth aspirations.