The initiative for fast-growing companies is the first of its kind for newly-formed ELITE Scotland
Seven Scottish companies have joined ELITE, the London Stock Exchange Group’s programme for fast-growing companies and have formed the first exclusively Scottish cohort as part of the launch of ELITE Scotland.
The launch is the first initiative of its kind for ELITE in the UK and builds on the existing contingent of Scottish companies within the programme.
More than 1000 companies have joined ELITE from 40 countries across 35 sectors.
The seven new companies are tech companies Glasgow-based Incremental, East Kilbride-based Cutitronics, Glasgow-headquartered Systal and Glasgow-based Encompass, Troon-based transport business CGL Logistics, Glencairn Crystal from East Kilbride and Shetland-based engineering business Ocean Kinetics.
They join the existing contingent of Scottish companies in ELITE including M Squared Lasers, Skyscanner and BrewDog.
ELITE Scotland is being launched in collaboration with Scottish Enterprise and Highlands and Islands Enterprise to support the growth of Scotland’s most ambitious companies.
To celebrate the launch of ELITE Scotland, David Schwimmer, CEO, London Stock Exchange Group (LSEG) Luca Peyrano, CEO of ELITE and the First Minister Nicola Sturgeon, welcomed the seven Scottish company CEOs to open trading in London this morning.
The seven new Scottish companies represent a diverse set of businesses providing products and services from enterprise technology solutions to industrial engineering.
Scottish companies will benefit from the core ELITE offering to help companies reach their next stage of growth.
ELITE provides education, business support and mentoring, networking, access to its community of Scottish and global investors, as well as ELITE’s own funding platform.
ELITE Scotland will feature tailored events, training and a mentorship network in Scotland. ELITE companies become part of the global community of more than 1000 companies and more than 400 advisers and investors, remaining members for the long term.
David Schwimmer said: “London Stock Exchange Group is pleased to be supporting ambitious entrepreneurial Scottish businesses through ELITE.
“By providing these high-growth companies with the skills, networks and access to capital, ELITE helps companies reach their next stage of growth and compete on a global stage.
“ELITE Scotland builds on the Group’s commitment to Scotland’s businesses and the immense talent and potential they offer to provide the innovation, jobs and economy of the future.”
The First Minister said: “Scotland’s business community is dynamic and innovative, and the Scottish Government will continue to play our part in supporting its long-term success, including helping it to address the challenges posed by Brexit.
“London Stock Exchange Group’s global ELITE programme has helped many companies around the world to secure funding, succeed and grow – including some from Scotland such as BrewDog and Skyscanner.
“I’m very pleased there is now a dedicated Scottish programme – ELITE Scotland – bringing together investors, public sector agencies and some of Scotland’s best and most ambitious companies.
“My warm congratulations to the initial cohort of companies that have signed up, and I’m sure many more in the future shall benefit from this fantastic initiative.”
Luca Peyrano, CEO, ELITE said: “I am delighted to welcome these seven new Scottish companies today, with whom we launch ELITE Scotland, becoming part of our global ELITE network.
“Jointly with Scottish Enterprise, Scottish Investment Bank and Highlands and Islands Enterprise, we look forward to working with Scotland’s vibrant businesses, providing them access to the expertise, networks and funding they need to achieve their potential.
“ELITE is delighted to support Scotland’s most ambitious companies, connecting them to capital and supporting them to compete on a global stage, as well as working to develop a connected funding ladder for such businesses.
“The launch of ELITE Scotland today underlines the track record and enormous potential of high-growth Scottish businesses.”
Paul Lewis, managing director of International Operations, Scottish Enterprise said: “Initiatives like the ELITE programme have proven to be essential platforms for promising home-grown businesses to scale-up their operations and fulfil their undoubted growth potential.
“Working with our colleagues at Highlands and Islands Enterprise, we have helped to identify the companies forming this first ELITE Scotland cohort – seven ambitious, fast-growing Scottish enterprises that will benefit from joining a vibrant global community of entrepreneurs, advisers and investors.”
Original Source: https://www.insider.co.uk/news/elite-scotland-london-stock-exchange-13922194