Global Technology Hub secures investment from Federated Hermes – Scottish Business News

FEDERATED Hermes, the owner of Skypark Glasgow – one of Scotland’s premier business destinations –  has announced the investment of £2.5m in ‘thebeyond’. ‘thebeyond’ is a new European technology hub created by Smart Things Accelerator Centre (STAC), enabling Scottish Internet of Things (IoT),   from drones and robotics brands to compete globally.

Federated Hermes, a leading responsible investment manager, has invested significantly in the scale up and is now enabling STAC’s vision for ‘thebeyond’ applying its urban placemaking expertise to develop a major European technology centre on site in the coming two years, closely linked with local universities as well as wider industry. A new 10 year lease has been agreed and ‘thebeyond’ will open in March in two suites in Skypark extending to around 20,000 sq ft.

Established at Skypark in 2014, Filament PD laid the foundation for STAC which launched in 2021. STAC is dedicated to nurturing Scottish technology start-ups through to becoming key players in a connected world. Scotland is seeing great success in IoT with companies winning UK and international market share. This includes  Utopi, Beingar, and iOpt in proptech, Krucial in space and satellite tech, and Kingdom technology in robotics. STAC is driving momentum and supporting the next generation of companies to follow suit. ‘Thebeyond’ by STAC is supported by seasoned industry executives with careers spanning tech giants such as Volvo, Dyson, Motorola, Plexus, Blackberry and Meta.

This news follows the announcement of a new partnership between the UK Government, Glasgow City Council and STAC which aims to transform Glasgow into Europe’s largest IoT hub. It envisages Glasgow becoming a leader in the development of industrial, lifestyle, health, and sustainability technologies with up to 100 companies operating by the end of the year.

Gregor Aikman, co-founder and COO of STAC, said: “I cannot overstate the invaluable financial and strategic support we’ve received from Federated Hermes and Skypark. Their £2.5m investment in ‘thebeyond’ underscores their dedication to creating an environment where emerging technologies can flourish and revolutionise industries.

“Through access to STAC’s prototyping lab and Skypark’s comprehensive facilities, Nudge Innovations, one of the companies in STAC cohort, has rapidly advanced its growth trajectory. Now headquartered at the Finnieston campus, Nudge Innovations is on the verge of launching its inaugural product. With mentorship from STAC’s industry-led programme, STAC Scale, Nudge have expedited their journey to market. Contributions from STAC sponsors Pivot International and Eurofins, alongside founding partners Filament PD & BODE Studio, have been instrumental in this progress.

“STAC’s expansion into ‘thebeyond’, will take acceleration to the next level. A thriving hub for innovation and collaboration, ‘thebeyond’ will include a cutting-edge facility featuring a fully furnished electronics lab, fabrication lab, and R&D maker-space. As well as a co-working space, event space, and media lab.”

Skypark’s Strategic Lettings Advisor, Angela Higgins of Resonance Capital, said: “We have increased our focus in technology at Skypark and this investment in ‘thebeyond’ underlines its significance for the sector. Drawing on Federated Hermes’ extensive urban placemaking expertise, we have nurtured STAC to enable the launch of ‘thebeyond’ Europe’s biggest IoT facility where emerging technologies can thrive and transform industries. This investment is unique and highlights Finnieston as an excellent location for the technology sector and high growth, independent SMEs. We offer the total package of a quality environment and location, wellbeing and first-class amenities as well as opportunities for social connection and collaboration within a diverse business community.”

Joint letting agents Ryden and JLL acted for Skypark in the completion of the deal.

Christina Holland, Senior Investment Manager, Federated Hermes Real Estate, added:  “We are proud to continue our support for Skypark, which goes from strength to strength as it builds on its growing reputation as a home for the most innovative businesses in the UK. The challenges we face today – be they economic, environmental, or technological – will require innovative solutions, and ‘thebeyond’ at Skypark is perfectly poised to continue leading the way.”