A new initiative called the FRIL skills academy is set to transform the landscape of education and workforce development in Scotland by focusing on upskilling, reskilling, and enhancing executive education. The academy will offer a variety of learning opportunities, including short courses, employer-driven microcredentials, and access to resources from its academic partners. This is particularly crucial given recent research from FinTech Scotland, which revealed that only 21% of Scottish fintech companies feel adequately prepared with the necessary digital skills for future challenges.
Stephen McArthur, vice-chancellor of Strathclyde University, expressed confidence in the project’s potential to drive economic growth: “Informed by Scotland’s expertise in financial services and shaped by industry demands, the academy will provide challenge-led skills and leadership development aligned to productivity, innovation, and growth.” He emphasizes the unique nature of this project within the UK’s higher education sector and its alignment with broader economic goals for Scotland and beyond.
The academy will operate on a 24/7 virtual platform, allowing for flexible and accessible learning. It will engage industry professionals to co-develop content, deliver guest lectures, and facilitate knowledge exchange events, ensuring that the training provided is relevant and practical. Graeme Roy, head of the University of Glasgow’s Adam Smith Business School, highlighted the importance of universities in fostering lifelong learning: “Providing opportunities for upskilling and reskilling enables people and organizations to thrive in a rapidly changing world.”
This initiative not only responds to the immediate needs of the workforce but also underscores the commitment to creating a sustainable, skilled workforce that is essential for economic resilience and innovation. With the collaboration of academic institutions and industry partners, the FRIL skills academy hopes to make a meaningful impact on Scotland’s economy and society at large.