Scottish space tech to power Danish financial innovation

Scottish space tech to power Danish financial innovation
by Sophie Jenkins
Glasgow, UK (SPX) Mar 05, 2025

Scottish space technology is playing a key role in advancing Denmark's financial sector, leveraging satellite data to enhance ESG reporting, bolster cybersecurity, and refine investment decision-making. This collaboration aligns with Denmark's recently unveiled national space strategy, announced in December 2024, which prioritizes international partnerships to drive innovation.

Scottish Enterprise, in collaboration with Glasgow City Innovation District (GCID) and Copenhagen Fintech, is spearheading an initiative to showcase how Scottish space companies can support the Danish financial industry. As part of this effort, a key networking event will take place on 18 March at the British Embassy in Copenhagen, following engagements with major industry organizations.

This initiative builds on the momentum generated by the Space Scotland Nordics Summit 2024, which was hosted in Copenhagen by the UK Embassy in Denmark, Space Scotland, and the GCID Venture Studio Challenge. The GCID Venture Studio Challenge Pillar is a long-term program designed to accelerate the growth of high-potential companies utilizing satellite and space data technologies to drive cross-sector innovation.

The upcoming event will highlight how Scottish space technology contributes to 18% of the UK's annual GDP, showcasing the expertise and solutions available to Danish financial services. These cutting-edge applications are helping to ensure security and sustainability while fostering financial innovation.

Julie Morrison, Global Head of Trade at Scottish Development International, emphasized the importance of the initiative: "Ambitious Scottish companies are at the forefront of the development of space data applications. The Challenge Pillar Call was an important step in highlighting how that data can be used commercially across a range of sectors domestically. We're confident that this event will demonstrate how groundbreaking space data applications developed in Scotland can be used by commercial partners internationally, specifically in financial services, opening up exciting new export opportunities."

Alisdair Gunn, Director of Glasgow City Innovation District, noted the success of the initiative: "We had a great response and outcomes from the GCID Venture Studio Challenge Pillar space programme. We're delighted to be partnering with Scottish Enterprise to take space companies to Denmark and put Glasgow's thriving space industry on the map."

Thomas Krogh Jensen, CEO of Copenhagen FinTech, underscored the strategic potential of the collaboration: "This project unites Scotland's pioneering satellite data companies with Denmark's leading financial, investment, and ESG sectors to explore how satellite-driven insights can revolutionise sustainable finance. By bridging these innovative ecosystems, we aim to harness space technology for smarter investments, enhanced ESG reporting, and a more data-driven approach to global sustainability challenges."