Edinburgh

By

Emma J

Last Updated: 11, September 2024
  Number of Digital Jobs
  Startup Births
  Digital GVA
  High Growth Firms
  Average Advertised Digital Salary
  Tech Sector Growth Potential

What’s there

Edinburgh is the UK’s second-largest financial centre, and also a leading digital tech cluster. It is home to major international companies and unicorns such as Skyscanner and FanDuel. It has three world-class universities, with the University of Edinburgh’s globally renowned School of Informatics producing an impressive number of spinouts in recent years.

CodeBase, the UK’s largest technology incubator is based in the city, and there is a highly supportive digital community. Edinburgh is also a great city to live in. Rich in culture and history, it has good travel links and its relatively small size makes it the perfect microcosm in which entrepreneurs can test their products.

What’s new

Last year, Edinburgh won Entrepreneurial City of the Year Award.

A new co-working space called Codesk was established within the city’s first incubator Techcube, with a remit to help small businesses tap into wider professional networks. CodeClan, an accredited digital skills academy, opened its doors too, aiming to produce job-ready software developers after a 16-week course.

Finally, Skyscanner, (which was founded in Edinburgh in 2003), was sold to Chinese tourism group Ctrip for £1.4 billion.

What’s up next

The Scottish Government’s newly launched CivTech initiative aims to initiate cooperation between private sector innovation, public organisations and citizen groups. A hugely successful pilot saw them welcoming eight companies to tackle sector specific challenges, and their next cohort will begin this autumn.

  • Gareth Williams

    CEO & Co-founder, Skyscanner

    What we do

    Skyscanner is a global metasearch engine for information on the World Wide Web that enables people to find comparisons for flights, hotels and car hire.

    Why Edinburgh?

    While we have ten offices across the world, including London and Barcelona, Skyscanner started life in Edinburgh. The thriving digital tech scene in Edinburgh is hugely supportive and collaborative, with a strong sense of camaraderie.

  • Jude Cook

    CEO & Co-Founder, ShareIn

    What we do

    We believe investment should happen online. We provide both a digital tech and compliance service
    that lets you connect with your network and raise capital. Combined client transactions by volume make us one of the largest crowdfunding operators in the UK and we continue to grow at a rapid pace.

    Why Edinburgh?

    We are proud to be based in CodeBase, the UK’s largest tech incubator in the heart of Edinburgh. They have been vital in giving us our first steps into the world of business. The team there are an invaluable, trusted source of knowledge. They’re genuine operators – people who’ve been there and done it. They understand the highs and the lows of startup life and can help to navigate the journey. Being based in Edinburgh we’ve also been able to tap into world-class talent coming out of the local universities.

Economic stats

25,109 Number of Digital Jobs Number of digital jobs – An estimation of employment in the digital tech industries and the digital tech economy. The APS has allowed us to capture digital embeddedness, that is digital experts working in non-digital industries. It also coves freelancers and self-employed workers. (Source: ONS Annual Population Survey)

0.23 Digital Concentration Digital concentration / Location quotient (LQ) – Indicates the geographic concentration of digital business turnover relative to the UK. A value of one indicates average digital concentration, while a value of greater than one indicates a higher concentration. (Source: BSD)

513 million Digital GVA GVA (Gross Value Added) – Average digital GVA between 2013-2015. GVA measures the contribution of each economic unit by estimating the value of an output (goods or services) less the value of inputs used in that output’s production process. (Source: ABS/BSD) .

17% High Growth Firms High growth businesses – Proportion of digital tech businesses classified as high growth. Refers to businesses with 10 or more employees that are in the top 10% of all companies in terms of growth. (Source BSD, 2015).

363 Startup Births Startup births – Average number of startup births 2011 – 2015 (Source: BSD)

85% Turnover Growth
53,019 Average Advertised Digital Salary Average Advertised Digital Salary – Digital tech economy average salary (2016) in each cluster (source: Burning Glass)

Standard of living

7.61 Life Satisfaction Life satisfaction – Life satisfaction (10 pt scale, ONS data)

294,277 Average House Price Average House Price – Semi Detached Average House Price (Land Registry, Dec 2016)

5.6 Housing Affordability Ratio Housing affordability ratio – House price to salary ratio

Cost of doing business

31 Commercial Rent Per Annum (£ sq/ft) Commercial Rent Per Annum (£ sq/ft) – Prime office rents (JLL< 2016)

JLL Property Data – Edinburgh

What local startups say is good

95% Overall Quality of Life
92% Tech Sector Growth Potential
78% Strength of Digital Economy

What local startups say is a challenge

61% Lack of Supply of Highly Skilled Workers
39% Limited Opportunities to Access Finance
21% Retention of Skilled Workers
Download more details on survey responses for this cluster