A start-up incubator to help launch new technology businesses will open in Edinburgh on December 13.
The business incubator, TechCube, will officially open on Thursday this week in offices close to the University of Edinburgh.
TechCube, which will help direct funding to tech start-up businesses, is itself funded by a consortium of companies including venture investros Scottish Equity Partners, accounting software company FreeAgent, and airline travel comparison site Skyscanner which has donated £25,000 worth of office furniture.
The incubator is described by its founders as “the first incubator in Scotland developed entirely by private capital and the local startup community”.
Seventeen companies have so far taken space in the building including Fanduel, a fantasy sports game covering major sports in the US and Canada such as the NBL and NHL, and The Journal, a local media platform that produces print and online content for students.
“I hope that TechCube will fuel the incredible Scottish start-up community by bringing together the hottest startups and private equity,” said Dr Jamie Coleman, managing director of TechCube and director of Northface Ventures.
“By lowering the barriers to entry, we can create a true meritocracy where the brightest and best can succeed,” he added.
First Minister for Scotland Alex Salmond has endorsed the project.