Edinburgh, Manchester and Bristol have emerged as the UK’s leading regional powerhouses for high-growth tech businesses, according to the latest Tech in the UK 2024 report from Barclays Eagle Labs.
The report provides an in-depth look at the regional spread of scale-ups, spinouts, and other fast-growing tech firms across the UK, measuring their economic contribution using Gross Value Added (GVA). The findings underline how vibrant local entrepreneurial ecosystems are driving growth outside the capital.
Regions with more than 100 high-growth companies delivered an average GVA of £294,000 per business — more than ten times that of areas with fewer than 100 such firms, which recorded just £27,500. Among the standout regions, Manchester led with a staggering £30 billion contribution to the local economy in 2022 alone.
Edinburgh, a thriving hub for innovation
Scotland’s capital is now home to over 450 high-growth tech businesses. According to Barclays, the city’s success is partly driven by the efforts of Scottish Enterprise in helping commercialise university research and support academic carve-outs. Between 2020 and 2024, 198 deals were signed in the region, reflecting the strength of Edinburgh’s innovation infrastructure.
Bristol and the rise of ‘Silicon Gorge’
Bristol’s deeptech cluster continues to thrive, bolstered by close collaboration between universities and research hubs such as the Brunel Centre — a joint data initiative from the University of Bath and UWE. Investment in the area rose 10% to £167 million last year, with the broader “Silicon Gorge” corridor now encompassing Bristol, Gloucester and Swindon.
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