How Scotland can compete on the global tech stage, guest blog by Josif Grace, CEO and Founder of Legado

When I first set foot in Silicon Valley, it felt like stepping into the engine room of global innovation. Working at RocketSpace - a technology scale-up accelerator and corporate innovation consultancy - put me in the midst of a unique and thriving ecosystem.

It was home to unicorns like Uber and Spotify, companies that grew from ideas into global giants through a combination of access to capital, talent, and a relentless focus on innovation. The experience taught me that a powerful ecosystem is essential to nurture tech companies, allowing them to scale rapidly and create world-class solutions.

Fast-forward to today, and I now lead Legado, a rapidly growing technology company based in Edinburgh. Reflecting on my time in Silicon Valley, I can see how Scotland - particularly Edinburgh - has quietly but significantly transformed into a thriving tech hub. Parallels between the two tech ecosystems are becoming more evident with each passing year.

While Edinburgh might not have the same scale as San Francisco, the evolution of Scotland’s tech ecosystem, championed by organisations such as FinTech Scotland, Scottish Financial Enterprise, and CodeBase, has made Edinburgh a standout destination for innovation and growth. These organisations have created an environment that mirrors some of the most important attributes of Silicon Valley: access to capital, talent, and customers, all in one place.

For early-stage companies, these three elements are critical to success. Silicon Valley’s strength lies in its ability to connect brilliant minds with the financial backing they need to rapidly iterate, pivot, and scale their ideas. The region is a playground of venture capitalists, customers eager to adopt new technology, and a vast pool of talent ready to join the next unicorn. Edinburgh, with its growing tech community and vibrant financial sector, is increasingly offering similar opportunities.

While venture capital investment in Scotland may not yet rival Silicon Valley’s scale, it is undeniably on the rise. Edinburgh has established itself as a hub for innovation, supported by a growing number of investors who recognise the potential here. Companies like the FNZ Group and Souter Investments have not only provided essential financial backing to Legado, but also valuable strategic insights.

Alongside these, investors such as Par Equity, Equity Gap, Maven Capital Partners, ForesightEU, and SEP are playing a vital role in fostering the growth of the broader tech ecosystem. Their support has enabled us, and others, to scale faster and smarter, all while developing products that address real customer needs.

But it’s not just about the capital. The strength of Edinburgh’s ecosystem lies in the collaboration between tech companies and forward-thinking institutions. With a rich talent pool driven by the city’s globally renowned universities and a well-established financial services sector, there’s a perfect blend of expertise and opportunity.

Scotland’s tech landscape is undoubtedly fertile, and we’ve seen this play out in the success of local technology scale-ups such as Amiqus, Aveni, and BR-DGE. These companies are blazing a trail, showing that Scottish innovation can thrive on the global stage.

However, to truly compete we need to foster a culture that embraces greater ambition and the kind of risk-taking that drives monumental success. The future is bright for Scottish tech, but to fully realise that potential, we must adopt the mindset of Silicon Valley - where calculated risks lead to transformative rewards.