Glasgow’s first Venture Studio supporting the technology, digital and creative sectors

Glasgow City Innovation District (GCID) has launched Glasgow’s first Venture Studio, aimed at developing innovation-driven businesses.

The project is supported by Glasgow City Council and funded by the UK Government through the UK Shared Prosperity Fund.

The GCID Venture Studio, piloting until 2025, will help Glasgow-based founders develop new ideas, products and business models into high-growth businesses, while supporting social innovation and community benefit.

The program involves creating teams of founders, designers, programmers and other experts within the studio whose task is to create, validate, develop and scale new business ideas.

The four pillars of activity are designed to support the needs of the digital, technology, engineering and creative sectors in Glasgow – challenge, create, innovate and impact. The programme will deliver a range of innovation programmes, with a range of projects and businesses working together.

The first round is called the Challenge – Space Data for Industry and offers grant funding to Glasgow-based businesses that sell or use innovative solutions that use space data to build stronger partnerships with existing or potential customers.

The challenge, led by GCID, is being run in partnership with Scottish Enterprise’s Mission Programme team, with support from the University of Strathclyde Space Group and the West of Scotland Space Cluster. Successful companies will receive grants of up to £30,000 to deliver a service or product with space data at its core.

Funding applications will continue through workshops and focus groups to test challenges and develop proposals, with up to six awards being made. It is expected that all successful projects will apply for larger rounds of funding to continue the work of the Challenge.

GCID Director Alisdair Gunn said: “The funding for the Venture Studio will support the development of innovative businesses, products and services, and will create a leading international innovation hub in the heart of Glasgow City Innovation District, dedicated to product development and collaboration, supporting the future growth of Glasgow’s technology ecosystem.

“We are pleased to announce the first call for companies to participate in the Challenge pillar focused on space.”

Allocating the SPF funding to GCID, Councillor Susan Aitken, Leader of Glasgow City Council, said: “Glasgow’s digital, technology, creative and engineering sectors are vital to the city and the wider city region. Our investment in the city’s first Venture Studio will continue to drive innovation that is key to the city’s future economic growth.

“This is a hugely exciting project that brings together all the people needed to develop new business ideas, products and services in high growth sectors that will create jobs and attract investment to Glasgow.”

GCID, Scotland’s first innovation district, is a collaboration between the University of Strathclyde, Glasgow City Council, Scottish Enterprise, Glasgow Chamber of Commerce and Entrepreneurial Scotland.