A new report from Barclays Eagle Labs and the Beauhurst database looks at the critical role technology ecosystems play in supporting high-growth firms and boosting local economies.
Local authority areas that are home to 100 or more high-growth companies are said to have an average gross value added (GVA) per person of £138,000 - compared to just £22,000 for those with less than 100.
Edinburgh tops the list for the number of high-growth businesses in cities outwith London, with 621 calling the city home - 280 of which are technology companies.
In the Scottish capital, investors have made £940million in total equity investment in tech companies since 2011 and universities have produced 83 spin-out firms commercialising university research.
There are also a range of business incubator and accelerator programmes, in addition to local government help. Barclays Eagle Labs are a growing national network provide business incubation, mentoring and co-working as well as office space for ambitious high-growth businesses.
The Edinburgh Eagle Lab is soon to be joined by two more locations in Scotland - at the HALO Enterprise and Innovation Hub in Kilmarnock and at the new Barclays campus in Tradeston, Glasgow.
Jon Hope, director of Eagle Labs, said:
"Our mission at Barclays Eagle Labs is to help support entrepreneurs and high-growth start-ups by providing them the tools they need to grow their business and by bringing together a range of actors to help nurture and grow local tech ecosystems.
"Every region in the UK has the presence of at least one high-growth technology cluster. However, data from Beauhurst found that seven out of the top 10 local authorities by number of high-growth tech companies were in London.
"We hope that, with support from networks like Eagle Labs, towns and cities throughout the country can reap the benefits that strong local tech ecosystems can provide."
One business who has both benefited from and contributed to the tech ecosystem in Edinburgh is ShareIn, a technology company that provides investment businesses with a platform that they can use to receive investments directly from their networks.
Co-founder and CEO Jude Cook said:
"A strong local ecosystem has been key in ShareIn's success. As a first-time founder, building bonds between other organisations and businesses was essential and having the support network of other early-stage start-ups that grew up together helped us get off the ground and grow to where we are today.
"But collaboration within the Edinburgh ecosystem and wider remains crucial in scaling ShareIn even further.”
