Science and technology start-ups in regions across the UK broke global trends to grow private sector investment in 2023, according to new research.
Science and technology start-ups in regions across the UK broke global trends to grow private sector investment in 2023, according to new research.
Businesses in Yorkshire and Humber saw a huge uplift of 20% in venture capital investment through the period, reaching new highs of over £200 million of investment in 2023. Welsh companies also attracted more investment in 2023, with funds raised increasing by 8.7% to £112 million.
Investment levels around the world tapered off after the pandemic and this downward trend did impact the UK, however the UK maintained its lead in Europe, and returned investment closer to pre-pandemic levels.
Now, according to the research from Barclays Eagle Labs, more than half of founders (54%) say the availability of funding is holding back their company’s growth.
These results follow the Department for Science, Innovation and Technology (DSIT) launching a new campaign aimed at driving up domestic investment opportunities in scale-ups. The ‘Science and Tech is our Superpower’ campaign aims to make sure growth-ready firms in the sector can access the funding they need from the UK to scale their success, boost long term economic growth and create jobs.
