Dundee - a Tech Nation city to watch
Tech Nation, the UK scaleup network and tech sector catalyst has included Dundee as a tech hub to watch for the future.
They launched their inaugural Scale Ratio comparing the number of seed stage, early growth and late growth companies in the UK’s tech ecosystems.
The report found 50:30:20 ratio of seed (50%), early growth (30%), late growth (20%) companies in a UK regional tech hub is a key factor to indicate places with a mature, balanced tech ecosystem and one that is in the best position to benefit from the accelerated growth of late stage companies while creating the next wave of tech scaleups.
The Tech Nation Scale Ratio indicates that 50:30:20 is the 'magic' ratio of the highest performing hubs. Crucially, areas with the largest number of scaleups attract the most significant Venture Capital (VC). 70% of this investment is made into late stage companies.
And where is Dundee on this scale?
According to Tech Nation, the city's ratio is 54:26:20 - so that's seed (54%), early growth (26%), late growth (20%).
Dundee is one of only three UK cities withthe highest proportion of seed stage companies compared to any others in the UK.
In 2020, Dundee was home to a high proportion of seed stage investments, such as a round of over £300k of investment in Eversens, a biotech firm, whilst in 2019 there were a higher proportion of Series A investment, including rounds raised by the likes of Agritech startup - Intelligent Growth Solutions.