Building an ‘Innovation Bridge’ for Guided Globalization Between the US and Europe
Learn how the University of Strathclyde in partnership with firms such as Blitzer, Clancy & Company is forging a unique partnership to guide American tech and engineering investors through the globalization process
In the constantly evolving world of technological advancement, the quest for innovative hubs has become an integral part of entrepreneurial exploration. Many in the United States have been searching within their borders, perhaps overlooking a burgeoning pool of talent and ingenuity across the Atlantic, nestled within the verdant landscapes of Scotland.
Scotland, while not traditionally recognized as a technology hotbed, is quietly cultivating an impressive generation of pioneers in science, technology, engineering, and mathematics (STEM). This unexpected turn of events may catch many by surprise but speaks to the global reach of the innovation revolution.
Why the Future is Bright for Tech Companies in Scotland
According to Beauhurst, a reputable research firm, the region now hosts over 850 rapidly expanding tech companies. Glasgow, a city known more for its rich history and vibrant arts scene, has emerged as a tech hub in its own right, experiencing significant growth within its tech sector. Private investment reached a record £100 million in 2022, marking an impressive 153% rise since 2019, the pre-pandemic era.
A closer look reveals that many burgeoning tech companies in Scotland are not established giants. Instead, nearly half are still in their seed stage, indicating a fertile ground for new ideas and attracting a global pool of fresh talent. This trend showcases Scotland’s evolving technological landscape, indicative of a promising future.
Recognizing the growing tech ecosystem, the University of Strathclyde, a leading international technological institution, foresaw potential collaborations with U.S investors eager to leverage Scotland’s burgeoning tech resources and expertise. However, facilitating these alliances and integrating the blossoming tech scene with global investors necessitates careful investment in infrastructure.
From Glasgow to Global: University’s Vision for Tech Talent
Established in 1796, the University of Strathclyde has long been an epicenter of advanced technology and research capabilities. Its reputation for excellence in innovation isn’t merely a claim but validated by empirical evidence. Close to 90% of its research output has been classified as either “world-leading” or “internationally excellent” in a recent independent evaluation of the UK’s higher education research landscape.
Strathclyde has garnered worldwide attention, drawing in a diverse community of international students from over 100 countries. This tapestry of minds, each with their unique perspective, forms a dynamic pool of potential innovators and industry leaders.
In the pursuit of providing an empowering platform for this dynamic group, Professor Sir Jim McDonald, Principal and Vice Chancellor of the University of Strathclyde, played a significant role in shaping the entrepreneurial support program, Strathclyde Inspire. The program offers start-ups investor-ready accelerators, early-stage investment opportunities, and scale-up support, all aimed at revolutionizing our daily lives and work environments.
Yet, Professor McDonald saw a bigger picture. Serving as a board member for two multibillion-dollar conglomerates, he understood the significance of showcasing the university’s innovation leaders on a global stage. He envisioned creating an arena where these trailblazers could interact, learn, and grow, leveraging the global platform to solve real-world problems, drive economic growth, and shape the future of technology and society. This concept echoes the broader theme of the power of collective intelligence and its potential to transform our world.
“At the University of Strathclyde, we have a strong belief in knowledge sharing — whether it be in the lecture room, or on the world stage. We’re delighted to have cultivated one of the most diverse and highly skilled talent pools that Scotland has to offer. Now is a crucial time to elevate our innovation and technology talent to a global level, so they can help solve existential challenges around the world.”
— Professor Sir Jim McDonald, Principal and Vice Chancellor of the University of Strathclyde
University Builds ‘Innovation Bridge’ With US Investment Advisory Firm
In the grand scheme of international collaboration and investment attraction, a significant alliance was formed and Professor McDonald partnered with Blitzer, Clancy and Company (“BCC”), a prestigious global advisory firm based in Washington, D.C. BCC has carved a niche in advising U.S. companies aiming to broaden their investments overseas in places like Scotland, the EU, and beyond. Their goal was to encourage globalization and fast-track market growth for their clients.
This collaboration proved fruitful, with BCC attracting internationally recognized organizations to Scotland, leading to several million-dollar investments in innovative start-ups like Mako Surgical, OrthoSensor, and Radom. Each of these companies have created groundbreaking technology, and their growth reflects the appeal of the emerging Scottish tech ecosystem.
The University of Strathclyde offered a unique value proposition, providing these companies with a home within the university, investing resources, and aiding their growth journey. This campus-based integration has been beneficial for the companies and students alike, offering the former a pool of ambitious and creative talents and the latter with valuable employment opportunities.
The successful partnership between BCC and the University of Strathclyde has sparked conversations about turning their “innovation bridge” into a sustained program under the auspices of the Scottish Government. The aim is to continue fostering a vibrant environment that encourages innovation, attracts investment, and cultivates globally competitive businesses. Such a development will not only further strengthen Scotland's innovation ecosystem but also serve as a model for international cooperation in fostering entrepreneurial growth.
In Practice: Tech Company Taps Partnership To Drive International Growth
Roman Bensen, the Chief Executive Officer of Radom, was in the pursuit of augmenting his company’s sophisticated suite of plasma-based applications. The objective was to build on the innovative work of U.S. scientists who had devised a high-temperature microwave plasma technology capable of cleanly and completely eliminating waste and naturally converting air into sustainable nitric acid.
This groundbreaking technology promised to reshape the landscape of the livestock and agricultural sectors, traditionally recognized as major contributors to greenhouse gas emissions. Beyond this, the technology held the potential to significantly mitigate the environmental impact of hazardous waste through an innovative gasification process.
In order to transition this pioneering innovation from concept to global commercial reality, Radom sought a partner. They needed an entity with connections to Europe's rich talent pool and the capacity to assist in establishing Radom’s international footprint. It was at this juncture, in partnering with Blitzer, Clancy & Company, they were introduced to the unique alliance with the University of Strathclyde, along with their innovation bridge initiative.
Thus, an effective blend of international collaboration along with a multimillion-dollar investment drove transformative change, bolstering the potential for decarbonization and implementation of sustainable practices in various industries.
“As we embarked on the journey with Blitzer, Clancy & Company and the University of Strathclyde, it became clear that the fusion of Radom’s vision with BCC and Strathclyde’s global expertise and resources was not just a step, but a giant leap towards delivering sustainable innovation. Our advanced microwave plasma-based technology, aimed at waste destruction and at transforming air into eco nitric acid, is more than an advancement; it’s a revolution in the agricultural, renewable energy, and waste sectors. This partnership symbolizes our commitment to not only lead in technological innovation but to fundamentally reshape how industries impact our planet. Together, we’re not just changing the narrative; we’re rewriting it for a sustainable future.”
— Roman Bensen, CEO of Radom
