Executive Summary Glasgowʼs burgeoning technology ecosystem has gone from strength tostrength in 2023 with many successes to share from across the Glasgow CityRegion. Startups and scaleups alike have taken advantage of a supportiveenvironment fuelled by good access to early-stage capital, a highly skilledtalent pool and ready sources of public funding to drive market square Did you know?According to Dealroom data,the Glasgow City Regiontech ecosystem encompasses: 920+»Startups and scaleups370+»VC-backed startups150+»Healthtech startups110+»Startups funded since202360+»Startups with Patents Glasgowʼs regional ecosystem is currently one of the fastest growing in the UKandnow representing a collective enterprise value of£4.1B.Leadingacademic institutions have continued to support innovation, with nearly 30%of the total enterprise value coming from regional university spinouts. The year saw record breaking levels of investment, with venture capitalistsand angel investors securing opportunities in Glasgow's emerging techsectors across food, climate, recruitment, photonics and in particular healthwhich drew more than 50% of all investments through 2023. 2024 has startedequallywell,showing similar appetite for investment in promising An open-access data platformfor Glasgowʼs tech ecosystem. Accessible to anyone, toprovide data transparency,learn about the ecosystem,measure KPIs, promote glasgow.dealroom.co Visit now » 1The rise of Glasgow tech 2Ecosystem today3Outlook “Glasgow has learned how to harness itsconsiderable talent, creativity and resourcestowards building a genuinely world-classstart-up environment. The city hasexperienced astonishing growth of 526% ininvestment into its startups since 2019, Mark LoganChief Entrepreneurial Advisorto theScottish Government Page/ 5Page/ 5 The combinedenterprise valueof Glasgowstartups has Glasgow isone of thefastest-growing Glasgowecosystem is alsogrowing fasterthan a lot of Glasgow is showing a promising funnel of startups, breakouts and scaleups. Universities are central pillars in supporting the tech ecosystem. Regional Universitiescontinue to feed thefunnel through » view startups » view startups » view startups “Previously there has been a perception of entrepreneurship inGlasgow, where starting a business was seen as risky, but I havenoticed a shift towards accepting entrepreneurship as a realisticand even desirable career option. This has been driven byfactors such as the success of local businesses in the Glasgowregion and increased support from council and government Looking ahead, we see Glasgow's startup ecosystem playing a key role in supporting ourbusinesses 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 While setting up and scaling our business in the Glasgow region, we have relied heavily on theUniversity of Glasgow for their exceptionally talented graduates and for access to theirstate-of-the-art facilities at James Watt Nanofabrication Centre to develop and test our products.The city's support for businesses, including incubators and funding opportunities has been Page/ 13 1The rise of Glasgow tech 2Ecosystem today 3Outlook Glasgow has received record levels of investment in 2023. VC investment into Glasgow startups, annual » View top rounds Early-stage investment is on the rise,reaching a record of £68 million. Breakout stage investment isat an all time high. Up 60% in 2023 to £123M. Glasgowstartups havehad a strongstart to the year,reaching £47M inVC investment in Median Seed roundsizes have been on anupward trend, and Median Series A roundsizes have surpassed UKand Scotland for first Glasgow companies by sector View more » In 2023, healthtech startups accounted for 57% of the total investment in Glasgow. Top sectors by VC investment, 2023» view live Health startups are now valued £1.1B, around 27% of Glasgowʼs ecosystem EV. Glasgow ranked15th in Europe forHealthtech “Glasgow City Region has a huge advantage.Access to industries, markets, infrastructure andservices are all possible and being a significant urbanarea, itʼs a great cultural and creative environment. Glasgow City Council and Scottish Enterprise have been two key supporters and have backed STACto be what it is so quickly. Crucially we have been supported with resources to aid establishmentand growth, but a critical next step for us is to work together with local government to address local The city, and local government have needs to address in infrastructure and transport, energy andhousing, waste and environmental management, community support and education.Our startups are addressing problems across these areas and more. We also have a significant Gregor AikmanFounder, COO atSTAC - SmartThings Accelerator Centre Page/ 23 Smart Things Accelerator Centre is a unique IoT accelerator dedicated to scaling start-ups