Glasgow based Global Comms and Tech provider will create 20 jobs in Glasgow
Scottish business Stream Technologies, a European leader in the design and provision of highly specialised mobile network services, has moved to bigger premises in Skypark, Glasgow, whilst creating 20 new jobs – 10 of which have already been recruited.
Supported by a Regional Selective Assistance grant of £200,000 from Scottish Enterprise, the company expansion will provide them with opportunities to further develop international business as their products gain worldwide recognition. They hope to scale the business from current sales of £5.5m towards a realistic target of £20m by 2018.
Stream’s platform enables customers to log in at one portal and then manage their entire data connectivity with any company. Increasingly, intelligent machines, devices and systems are communicating with each other through the Internet of Things (IoT). Stream’s software platform, known as IoT-X, is a key enabler for the “Internet of Things” allowing smart cities, smart transport systems and smart factories to work more effectively and efficiently with minimal human input.
Nigel Chadwick, CEO of Stream and EY Entrepreneur of the year winner for Scotland, said: “The rapid scaling and globalisation of IoT, with analysts forecasting six to ten fold numbers of connected devices between now and 2020, presents an unprecedented growth opportunity for Stream Technologies. Scottish Enterprise has been consistently supportive throughout the past decade, in particular enabling us to devote resource and focus on technological innovation, R&D, which has led to us pushing the boundaries of what is possible in wireless connectivity management in IoT.”
Cabinet Secretary for the Economy Keith Brown said: “Scotland’s digital economy is growing fast, with huge opportunities available to innovative and ambitious technology companies such as Stream Technologies. The Scottish Government is committed to helping Scottish businesses embrace the digital revolution. I would like to congratulate Stream Technologies on its Glasgow expansion. The 20 jobs this move has created are a welcome boost to the local economy and underline the huge contribution that our digital sector makes to sustainable economic growth and to the creation of high quality jobs.”
Machina Research estimates that the number of Machine to Machine connected devices will grow from 3.5 billion in 2013 to 22.2 billion by the end of 2023, representing more than a six-fold growth in the period.
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Background
Machine to Machine allows key information to be exchanged without human intervention, making it possible to reduce costs and improve efficiency and service to customers.