Edinburgh ranks fourth on the UK’s list of best tech cities

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The Leveling Up Power Tech League 2021 has been put together via a new analysis for the UK’s Digital Economy Council by Dealroom and the job search engine Adzuna, with the Scottish capital in fourth place. Cambridge, Manchester and Oxford finished first, second and third respectively.

According to the study, Edinburgh’s high status was due in part to the city’s advertised high average salaries for tech workers, coming in at £ 58,405, the highest in the UK outside of London and the South East. and there are now more than 2,000 tech jobs in the city, an 85% year-on-year increase. Additionally, 21.6% of all UK IT job postings are advertised as remote roles.

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Edinburgh’s tidal energy pioneer Nova Innovation gets a seven-figure boost for advan … Edinburgh is praised for its high amount of talent and innovation. Image: Ian Georgeson.

The report’s authors also noted that technology firms in the Scottish capital raised a total of £ 117 million across 47 venture rounds, the second highest number in the UK, “indicating a growing class of early stage companies that will become technology giants of the future “- including health technology company Current Health (£ 32.5 million), food technology specialist Parsley Box (£ 17 million) and tidal energy company Nova Innovation (6.4 million of £).

The city has also produced two unicorns (high-growth tech companies valued at over $ 1 billion), namely Skyscanner and FanDuel, the report also notes, adding that Skyrora, the next-generation space launch vehicle start-up, is expected to reach this threshold in the next few years.

It has been pointed out that more unicorns have been created in the UK than ever, now numbering 116, with a quarter created in 2021 alone and nine of the 29 unicorns created this year are outside London, including Interactive Investor in Glasgow.

Larger slice

Furthermore, with more money flowing into British technology than ever before – £ 26 billion this year, 2.3 times more than last year – regional cities are “taking a bigger piece of the pie”. Around £ 9 billion of all funding went to start-ups and scale-ups outside London.

The report also states that the UK government has increased its R&D investments to £ 20bn by 2024-25 and aims to bring them to £ 22bn by 2026-27.

UK Digital Minister Chris Philp said: “UK technology has had a truly fantastic year, with more companies expanding on the path to future global leaders. These innovative start-ups across the country are helping to solve some of the most complex problems in the world ”.

Sandy McKinnon, partner at Pentech Ventures, said: “Edinburgh has grown steadily as a technology hub over the past few years and this list recognizes that. The combination of world-class universities, established IT companies and unicorns like Skyscanner and FanDuel means there are many exciting talents and innovations around town.

“We are seeing this with newcomers like TravelNest, Desana, Amicus, Biomage and many others who are revolutionizing traditional industries – there is really so much potential around town.”

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