Tech company start-ups in Scotland jump by 77 per cent

The number of new tech companies set up in Scotland rose by 77 per cent in 2017, a report has found.

By The Newsroom Friday, 6th April 2018, 5:08 pm Updated Friday, 6th April 2018, 5:14 pm

There were 440 software development and programming businesses incorporated in Scotland last year

There were 440 software development and programming businesses incorporated in Scotland last year, a 77 per cent increase on the 249 companies set up in 2016.

Analysis by RSM found that UK-wide there were 10,016 technology businesses incorporated in 2017, with year-on-year rises recorded in every region.

Sign up to our daily newsletter The i newsletter cut through the noise Sign up Thanks for signing up! Sorry, there seem to be some issues. Please try again later. Submitting...

Ross Stupart, partner at RSM in Edinburgh said: “These figures show very clearly that despite the fears of a post-referendum slowdown, Scotland’s tech sector is growing at a healthy rate.

“There are a number of reasons for this. Scottish universities are playing a key role in developing and nurturing exceptional talent and we continue to attract the world’s brightest and best. Organisations such as EIE, FutureX Innovation, Start-up dinners, Turing Festival and Entrepreneurial Scotland are also contributing significantly in creating a vibrant and supportive tech eco-system.

“Entrepreneurs are able to gain good access to finance, either through traditional sources of debt at relatively cheap rates, or from venture capitalists, angel networks and private equity funds.