FinTech Scotland, ScotlandIS and LawscotTech to build strong digital economy through collaborative clusters initiative

Three of Scotland’s leading technology cluster voices are to work more closely to stimulate Scotland’s digital economy and develop cross-sector collaboration that will lead to growth and a prosperous economy. 

The collaborative cluster approach by FinTech Scotland, ScotlandIS and the Law Society of Scotland’s LawscotTech aims to bring leaders together from a diversity of disciplines and expertise. The aim is to share learning experiences and solutions to help speed up the rate of innovation and help businesses and individuals adapt to new working practices, following the outbreak of COVID-19.

Scotland has distinctive advantages in terms of its existing collaborative business culture, access to government and funding agencies, its raw talent and history in global sectors such as finance, health, data, advanced manufacturing, energy, engineering and legal and other professional services.

Karen Meechan, Chief Operating Officer of ScotlandIS, the membership and cluster management organisation for Scotland’s digital technologies industry, said: “ScotlandIS, the Law Society Scotland and FinTech Scotland have a shared ethos and ambition to create a truly digital nation, one that recognises the value of the digital economy and uses its power to enable growth for all sectors.

"This natural step forward will allow member companies of the three organisations to collaborate and innovate, and to further drive the step change in business and the wider society. We’re looking forward to working closely together going forward and the opportunities that it will bring.”

FinTech Scotland is the leadership body developing an integrated financial innovation cluster working with innovative entrepreneurs, large global enterprises, skills bodies, public sector, investors and citizen groups.

Stephen Ingledew, Executive Chair and founder of FinTech Scotland, said: "Bringing together our collective strengths across the clusters will enable us to be best placed to address the economic and social challenges faced by many communities and businesses. This is reinforced by our shared values of inclusivity and collaboration being at the heart of all innovation developments. I am excited by the opportunities to bring together participants and development the collaboration with colleagues at Scotland IS and the Law Society of Scotland"

Amanda Millar, President of the Law Society of Scotland and founding member of the LawscotTech Advisory Board, said: “At the heart of LawscotTech is collaboration and bringing the right people from the legal and technology worlds together to collectively stimulate legal technology innovation and build a stronger future for the profession and the clients we serve. I am really pleased that we have been able to reach out and expand that to work with Fintech Scotland and ScotlandIS who have been making great progress. Together we can harness our collective energy and create the right conditions for our tech eco-systems to thrive and play a pivotal role in the Scotland’s economy.”

The first article in a series of collaborative content from ScotlandIS Cyber and Data Clusters, FinTech Scotland and LawscotTech considers how working from home can impact on employees’ attitudes towards diligence and how companies can encourage a compliance-driven culture in a remote setting. It is available to read on the Law Society of Scotland website.