Glasgow is aiming to become the largest internet of things (IoT) innovation hub in Europe following the launch of a £2.5m public-private sector partnership.
The initiative will provide public funding for a new facility called “thebeyond” at SkyPark, Finnieston in Glasgow, which will provide 250 desks and a lab space for startups developing “smart things” technology.
It is being run by the UK government, Glasgow City Council and the Smart Things Accelerator Centre (STAC).
The initiative aims to support the establishment of up to 100 companies in the Scottish city by the end of 2024.
Glasgow will become a testbed for innovations developed out the initiative.
“Glasgow can be a powerhouse in the key technologies that will enhance life and industry for the next decades,” said Paul Wilson, CEO, and co-founder of STAC.
“As we build the leading tech cluster around STAC’s thebeyond we will gain a reputation and attract international investment. That’s the goal, ambitious and realisable. We believe thebeyond will be Europe’s largest Smart Things and IoT space.”
The partnership will also bring in private sector experts frm companies including Dyson, Meta and Volvo Cars.
Volvo Cars CEO and STAC advisory member Jim Rowan said: “We have the talent and innovation from our universities, now we are boosting entrepreneurship and increasing the ambition to position Glasgow as a leader in the development and application of key future technologies that will allow it to compete on the global stage.”
It is the latest new lab and co-working space project to be announced in Glasgow. In November, the University of Glasgow and property developer Kadans Science Partner announced plans to build a health hub in Govan, to provide office space, labs and co-working areas.