Federated Hermes has announced the investment of £2.5m in ‘thebeyond’, 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 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 July in two suites in Glasgow’s Skypark extending to around 20,000 sq ft.

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.”