Leeds Technology Scaleup Hotbed

Leeds produces trailblazing scaleups at an impressive rate.

15:00 15 May 2023

Leeds is on its way to being recognised as a hotbed for tech scaleups not just in the UK but also globally as it continues to produce trailblazing scaleups at an impressive rate. 

For the past decades or so, Leeds has had some of the fastest scaleup growth in the North of England - thanks to numerous companies that have successfully achieved 20per cent of growth either in revenue or employees during their first three years in business. In the year up to September 2022, Leeds-based tech start-ups secured £288 in venture capital investment, representing a jaw-dropping 88per cent increase compared to the year prior. 

Stuart Clarke MBE, co-founder of Leeds Digital Festival, says that startups and scaleups “have grown around their needs”. 

“I always say it’s the most collaborative tech sector in the UK. People moving to the city can find a network and support really quickly, there are more than 70 regular tech meetups and the success of the Leeds Digital Festivals shows what can happen when people come together.”

“Every firm I know has vacancies, but we’ve seen a citywide movement over the last few years to bring in more apprentices and graduates, rather than firms competing with each for the same talent,” explains Clarke.

Clarke adds: “It’s the same with funding: we may have fewer angels and VCs than, say, London, but the number of funders within the region has grown in the last year or two and more are coming into the city, attracted by the talent and – dare I say it – more reasonable valuations.”