1、FINTECHIMPACTMRKTPLCSFOODTECHDEALROOMSIGNALTitle H1SubtitleParagraphValuesCaptionCall to actionCall to actionTitle AdsCover TtlQuoteWit titleNNNNGlasgow City Region Tech Ecosystem Report May 20248571Startups and ScaleupsFundedB2BB2CPatent-holdingSource:Dealroom.coExecutive SummaryGlasgows

2、 burgeoning technology ecosystem has gone from strength to strength in 2023 with many successes to share from across the Glasgow City Region.Startups and scaleups alike have taken advantage of a supportive environment fuelled by good access to early-stage capital,a highly skilled talent pool and rea

3、dy sources of public funding to drive market square activity.Collaborative efforts between local government,innovation districts and entrepreneurial support organisations have driven notable growth in the ecosystem.Glasgows regional ecosystem is currently one of the fastest growing in the UK and now

4、 representing a collective enterprise value of 4.1B.Leading academic institutions have continued to support innovation,with nearly 30%of the total enterprise value coming from regional university spinouts.Early-stage investment is on the rise too with breakout stage in particular at an all-time high

5、 of 99M,up 50%from 2022.The year saw record breaking levels of investment,with venture capitalists and angel investors securing opportunities in Glasgows emerging tech sectors across food,climate,recruitment,photonics and in particular health which drew more than 50%of all investments through 2023.2

6、024 has started equally well,showing similar appetite for investment in promising pharmaceutical,biotech and medtech firms alongside those operating in sensing,robotics,construction tech and green hydrogen sectors.Page/2 59661128571920+Did you know?According to Dealroom data,the Glasgow City Region

7、tech ecosystem encompasses:Startups and scaleups370+VC-backed startups150+Healthtech startups110+Startups funded since 202360+Startups with PatentsExecutive SummaryGlasgows burgeoning technology ecosystem has gone from strength to strength in 2023 with many successes to share from across the Glasgow

8、 City Region.Startups and scaleups alike have taken advantage of a supportive environment fuelled by good access to early-stage capital,a highly skilled talent pool and ready sources of public funding to drive market square activity.Collaborative efforts between local government,innovation districts

9、 and entrepreneurial support organisations have driven notable growth in the ecosystem.Glasgows regional ecosystem is currently one of the fastest growing in the UK and now representing a collective enterprise value of 4.1B.Leading academic institutions have continued to support innovation,with near

10、ly 30%of the total enterprise value coming from regional university spinouts.Early-stage investment is on the rise too with breakout stage in particular at an all-time high of 99M,up 50%from 2022.The year saw record breaking levels of investment,with venture capitalists and angel investors securing

11、opportunities in Glasgows emerging tech sectors across food,climate,recruitment,photonics and in particular health which drew more than 50%of all investments through 2023.2024 has started equally well,showing similar appetite for investment in promising pharmaceutical,biotech and medtech firms along

12、side those operating in sensing,robotics,construction tech and green hydrogen sectors.Did you know?According to Dealroom data,the Glasgow City Region tech ecosystem encompasses:An open-access data platform for Glasgows tech ecosystem.Accessible to anyone,to provide data transparency,learn about the

13、ecosystem,measure KPIs,promote startups.Visit now glasgow.dealroom.coAccessible to anyone,to provide data transparency,learn about the ecosystem,measure KPIs,promote startups.An open-access data platform for Glasgows tech ecosystem.1 The rise of Glasgow tech2 Ecosystem today 3 OutlookPage/4 Mark Log

14、anChief Entrepreneurial Advisor to the Scottish Government“Glasgow has learned how to harness its considerable talent,creativity and resources towards building a genuinely world-class start-up environment.The city has experienced astonishing growth of 526%in investment into its startups since 2019,m

15、aking it one of Europes fastest growing startup ecosystems,with the enterprise value of Glasgows startups exceeding 4B for the first time.Onward!”Page/5 Page/5 Page/6 The combined enterprise value of Glasgow startups has surpassed 4.1B in Q1 2024.Source:View live YTDCombined enterprise value of Glas

16、gow Startups by founding year view liveDealroom.coYTDPage/7 Glasgow is one of the fastest-growing ecosystems in the UK.Leading UK hubs by VC investment growth 2019-2023Source:Dealroom.coPage/8 Glasgow ecosystem is also growing faster than a lot of mature European ecosystems.Selected European ecosyst

17、ems EV growth since 2020Source:Dealroom.coPage/9 Leading funding rounds into Glasgow in 2023&2024View live Source:Dealroom.coHealth36MAug 2023-Series AFood34MAug 2023-Series CHealth30.7MSep 2023-Series ATransportation30MJul 2023-AngelHealth15.7MApr 2024-Early VCHealth10MFeb 2023-Series AHealth9MApr

18、2024-Early VCHealth8.8MFeb 2023-Early VCHealth7.5MFeb 2023-Series ASource:Dealroom.co.Glasgow is showing a promising funnel of startups,breakouts and scaleups.View moreRising Stars 1BSource:Page/10 Dealroom.coPage/11 Source:Dealroom.co20192024 YTD893M1.2BSpinouts represent 29%of total enterprise val

19、ue in GlasgowUniversities are central pillars in supporting the tech ecosystem.Combined enterprise value of Glasgow universities spinoutsGlasgow based or founded spinouts from Regional Universities by sector View onlineUniversityof GlasgowUniversityof GlasgowUniversityof GlasgowUniversityof Glasgow1

20、.4xGrowth110+Spinouts from Universities in Glasgow1.2BCombined Enterprise Value1,300+Jobs at Glasgow-based SpinoutsPage/12 University of GlasgowNotable spinout view all spinoutsStartups founded by UoG alumni in Glasgow view startupsUniversity of StrathclydeNotable spinout view all spinoutsStartups f

21、ounded by UoS alumni in Glasgow view startupsRegional Universities continue to feed the funnel through spinout activity.Source:University of the West of ScotlandNotable spinout view all spinoutsStartups founded by GCU alumni in Glasgow view startupsDealroom.coNoel McKennaCEO at Neuranics“Previously

22、there has been a perception of entrepreneurship in Glasgow,where starting a business was seen as risky,but I have noticed a shift towards accepting entrepreneurship as a realistic and even desirable career option.This has been driven by factors such as the success of local businesses in the Glasgow

23、region and increased support from council and government initiatives.There is a greater recognition of the value that startups bring to the local economy in terms of innovation,job creation and technological advancement.Looking ahead,we see Glasgows startup ecosystem playing a key role in supporting

24、 our businesses continued growth by taking advantage of local funding initiatives that are available,while continuing to make use of the exceptional talent pool in Glasgow to build our team of engineers and professionals.While setting up and scaling our business in the Glasgow region,we have relied

25、heavily on the University of Glasgow for their exceptionally talented graduates and for access to their state-of-the-art facilities at James Watt Nanofabrication Centre to develop and test our products.The citys support for businesses,including incubators and funding opportunities has been essential

26、 for our growth.”Page/13 1 The rise of Glasgow tech2 Ecosystem today 3 OutlookPage/14 Page/15 Glasgow has received record levels of investment in 2023.Early stage 415m(series A)14m(seed)01m(pre-seed)Late stage 250m+100250mBreakout stage 40100m(series C)1540m(series B)VC investment into Glasgow start

27、ups,annual View top roundsSource:Dealroom.coPage/16 415m(series A)14m(seed)01m(pre-seed)40100m(series C)1540m(series B)Breakout stage investment is at an all time high.Up 60%in 2023 to 123M.Early-stage investment is on the rise,reaching a record of 68 million.Source:Dealroom.co 415m(series A)14m(see

28、d)01m(pre-seed)40100m(series C)1540m(series B)YTDYTDGlen Clova ScientificPage/17 Glasgow startups have had a strong start to the year,reaching 47M in VC investment in Q1 of 2024.Glasgow VC investment,by month(2019 April 2024)Source:Dealroom.coPage/18 Seed median Series A medianMedian Seed round size

29、s have been on an upward trend,and match UK and Scotland in 2023.Median Series A round sizes have surpassed UK and Scotland for first time.Source:Dealroom.coGlasgow companies by sectorView more Page/20 In 2023,healthtech startups accounted for 57%of the total investment in Glasgow.View live Dealroom

30、.co.Startups,as well as capital invested in them,are categorised under up to two industries.As such,double counting may occur.Segments overlap between each other.Dealroom.co.Startups,as well as capital invested in them,are categorised under up to two industries.As such,double counting may occur.Segm

31、ents overlap between each other.Source:Top sectors by VC investment,2023 view liveVC investment into Health by sub-industries,202389MPage/21 Health1.1BHealth startups are now valued 1.1B,around 27%of Glasgows ecosystem EV.Glasgow EV4.1BOther industries3BMost valued Health startups in Glasgow View mo

32、re Source:Dealroom.coPage/22 View live Source:Dealroom.co.Excluding investors with undisclosed locations.Source:Dealroom.co.Glasgow ranked 15th in Europe for Healthtech investment in 2023Healthtech VC investment by European ecosystems in 2023Gregor AikmanFounder,COO at STAC-Smart Things Accelerator

33、Centre“Glasgow City Region has a huge advantage.Access to industries,markets,infrastructure and services are all possible and being a significant urban area,its a great cultural and creative environment.All of this provides an advantage to startups being exposed to diverse perspectives,ideas,and tre

34、nds.Glasgow City Council and Scottish Enterprise have been two key supporters and have backed STAC to be what it is so quickly.Crucially we have been supported with resources to aid establishment and growth,but a critical next step for us is to work together with local government to address local is

35、sues and opportunities with homegrown talent and solutions delivered by our local startups.The city,and local government have needs to address in infrastructure and transport,energy and housing,waste and environmental management,community support and education.Our startups are addressing problems ac

36、ross these areas and more.We also have a significant population,which gives startups a local advantage.I think as a city we have huge opportunity,and a responsibility,to support each other.”Page/23 STAC IoT companiesView more STAC CompaniesSmart Things Accelerator Centre is a unique IoT accelerator

37、dedicated to scaling start-ups to become sustainable,globally competitive companies.Page/25 Explore Glasgows Tech meetups view onlinePage/25 Jamie McHaleFreelance Technology Developer and Organiser for GlasgowJS Javascript Meetup“Event organisers in Glasgow and Edinburgh have collaborated to share i

38、nformation,cross-promote events,and attract speakers.We know that building Scotland as an attractive investment and talent destination is a positive-sum game for us all.When re-starting the GlasgowJS JavaScript Meetup we appreciated the support of Glasgow City Council.We sold out our first event,so

39、without the initial funding from GCC we would not have been able to afford to put it on.Weve used the first few events to raise more sponsorship to help with costs,and now have a regular crowd of attendees.The community feels energised,and there is an appetite to build new products,services and oppo

40、rtunities.We have a pipeline of junior developers who struggle to find work,and companies that want to attract mid and senior talent.The ecosystem is attempting to address this by running meetups,hackathons and promoting online content that helps develop talent,and match people to right-sized opport

41、unities.Growing the talent pipeline means investing in our community now for future gains.”Page/26 Top 50 Startups to watchDiscover the top 50 startups in Glasgow City Region using predictive signals.Combined Enterprise Value1.2BFunding raisedsince 2020297MTop sectorsHealth,Energy and Semiconductors

42、Growth in valuesince 20204.2xDESIGN CONTENTDESIGN CONTENT1 The rise of Glasgow tech2 Ecosystem today 3 OutlookPage/27 Page/28$1B+Glasgow companies founded since 1990VC-backed Glasgow companiesGlasgow pre funding companies$1B+Glasgow is showing a promising funnel of startups,breakouts and scaleups.25

43、+Glasgow startups raise their first VC round each year186Startup(012M total funding)16Breakout(1280M total funding)1Scaleups(80M+total funding)0 VC-backed companies 1 non VC-backed company Source:Dealroom.co.Page/29 The top investors in Glasgow since 2019 have a local Scottish presence.Source:Dealro

44、om.co.*Based on number of rounds participated in,number one investor indexed to 100.Source:Scottish Enterprise is the top investor in Glasgow by number of rounds.Two out of the ten most active investors in Glasgow since 2019 are domestic.Scottish Enterprise is the top investor in Glasgow by number o

45、f rounds.The most active investors in Glasgow since 2019Dealroom.co.*Based on number of rounds participated in,number one investor indexed to 100.Andrew NoblePartner at Par Equity“As a VC,were drawn to the character traits of the entrepreneurial community in Glasgow,often demonstrated by their proac

46、tive,commercial mindset and a high degree of grit and determination to build big businesses.Glasgows tech ecosystem is going from strength-to-strength in recent years.Glasgow boasts access to affordable office space and the infrastructure needed to support fledgling companies and tech innovation,wit

47、h renowned universities like Strathclyde and Glasgow providing a collaborative platform between academia and industry.Two of our most recent investments have been into Glasgow-based companies-Phlo and Neuranics.Par Equity led Phlos 9 million Series A in March,the second investment from our new Scale

48、-Up Fund,which is designed to propel some of the most promising tech companies in the north of the UK.Similarly,last year we led a 1.9m funding round into Neuranics,a spin-out from the University of Glasgow,which is a fantastic example of the citys potential to birth pioneering deep-tech companies.”

49、Page/30 Page/31 VC investment into Glasgow is diversifying beyond the usual UK investorsView live Glasgow VC investment by investor location View liveSource:Dealroom.co.Excluding investors with undisclosed locations.Source:Dealroom.co.Excluding undisclosed investors.Page/32 Dealroom.co.Includes all

50、investors participating in at least one round in each respective year.Investors counted only once within the year,regardless of the frequency of their investments.Source:Number of unique investors has almost doubled since 2020.Source:Dealroom.co.Includes all investors participating in at least one r

51、ound in each respective year.Investors counted only once within the year,regardless of the frequency of their investments.Page/33 Notable exits since 2023.Acquisition Feb.2023Acquisition Jul.2023Acquisition Feb.2024Buyout Mar.2024View live Source:Dealroom.coPage/34 Since 1990,life sciences patents h

52、ave accounted for 54%of all patents granted in Glasgow.Glasgow patents by classes since 1990Source:Dealroom.coPage/35 MethodologyWhat is a startup?Companies designed to grow fast.Generally,such companies are VC-investable businesses.Sometimes they can become very big(e.g.$1B+valuation).When startups

53、 are successful,they develop into scaleups(50 people),grownups(500 people)and result in big companies.Only companies founded since 1990 are included in this report.What is a unicorn?Unicorns are(former)startups that reached US$1B valuation or exit at one point in time.What is a startup?What is a Uni

54、corn?Scope of the reportWhile many startups founded in Glasgow relocate beyond its the borders,most maintain business-critical ties to their homelands.In order to take this reality into account,this report includes both Glasgow-based startups,which maintain their main center of business(HQ)in their

55、country of origin,and Glasgow-founded startups,with their HQ relocated outside of Glasgow.Underlying DataDealrooms proprietary database and software aggregate data from multiple sources:harvesting public information,user-submitted data verified by Dealroom,data engineering.All data is verified and c

56、urated with an extensive manual process.The data on which this report builds is available via app.dealroom.co.For more info please visit dealroom.co or contact supportdealroom.co.Data for this report was taken in Q1 2024.Venture Capital,InvestorsInvestment are referred to by their round labels such

57、as Seed,Series A,B,C,late stage,and growth equity.VC investments exclude debt,non-equity funding,lending capital and grants.Unless otherwise mentioned,rounds labelled as(pre-)seed,series A or early VC,as well as all rounds under 15M are considered Early.Those rounds 15-40M,and all rounds labelled Se

58、ries B and C are considered Breakout.Rounds labelled Series C,Late VC and/or 40M+are considered Late.Source:Dealroom.coPage/36 Global startup&venture capital intelligence platform.Dealroom.co is the foremost data provider on startup,early-stage and growth company ecosystems in Europe and around the

59、globe.Founded in Amsterdam in 2013,we now work with many of the worlds most prominent investors,entrepreneurs and government organizations to provide transparency,analysis and insights on venture capital activity.Glasgows dedicated Investment Promotion Agency(IPA)Invest Glasgow offers a comprehensiv

60、e inward investment support and guidance service by providing a single point of contact for all businesses,property investors and developers while promoting the Glasgow metropolitan area as one of the most business-friendly locations in the UK and Europe.Local government authority delivering ambitio

61、ns outlined in Glasgow Economic StrategyGlasgow City Councils Digital Economy team ensures the city attracts and grows the required digital foundations including:skills,innovation environment,tech-enabled businesses,connectivity and infrastructure.Aligned to the national Government-commissioned Scottish Technology Ecosystem Review,a key objective is the attraction and funneling of investment to strengthen and grow the market-square for Glasgows technology ecosystem.Discover the most promising Basque Country companies on: