The Startup Ecosystem of United Kingdom
The United Kingdom has 70 cities in the top 1000 and has a vibrant startup scene that ranks 2nd within the competitive global top 10.
COUNTRY RANKING
The United Kingdom’s startup scene remains stable in 2024 on the 2nd position, despite losing 4 cities in the global top 1000.
Population
Million
Regional Ranking
In Western Europe
Global Ranking
Worldwide
Ecosystem
Startup Ecosystem Overview
The United Kingdom capitalizes on its global city status and top-tier Universities to thrive in entrepreneurship and technology innovation. London, a renowned financial hub, has evolved into a premier destination for Fintech startups, while academic centers like Cambridge and Oxford are emerging as global deeptech innovation hubs. The UK’s historical connections with nations worldwide attract some of the brightest talent globally.
In response to Brexit’s impact on emigration, the UK now offers programs like the Innovator visa and Start-up visa to attract foreign entrepreneurs. Despite an upcoming corporate tax rate increase in 2024, the UK remains a favored business location with a competitive tax rate among the G20 countries. However, it may affect the appeal of establishing a company in the UK.
Key players in the UK startup ecosystem include InnovateUK and TechUK, supporting tech businesses in expanding and commercializing new products. The government’s £12m Digital Growth Grant to Barclays Eagle Labs, with an additional investment pledge of £24m, showcases the commitment to fostering tech growth. London Tech Week solidifies London’s position as a prominent tech hub, contributing to the local ecosystem’s development.
Despite challenges like Brexit, the UK startup scene has shown resilience, evident in its swift response to crises like the recent SVB UK shutdown. The UK Government’s support through initiatives like the AI Regulation Framework demonstrates a commitment to promoting innovation and nurturing a resilient startup ecosystem capable of bouncing back from adversity.
The UK’s strong startup landscape has produced impactful innovations, exemplified by global unicorns like Revolut and Wise. By continuing to leverage its top universities and pro-business environment, alongside maintaining its global leader status, the UK startup ecosystem can uphold its position as a powerhouse in innovation and entrepreneurship.
Startups
United Kingdom Top Startup Industries
4672 startups
1748 startups
1471 startups
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Ecosystem HealthCheck
United Kingdom Ecosystem Health Check
The health check tables allow you to look at the performance United Kingdom has in each of the parameters that are part of StartupBlink's ranking algorithm. There are five tables, corresponding to the three subscores, the subscore analysis and industry ana...
- Overperformance
- Performance equal to global ranking
- Underperformance
ECOSYSTEM
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Startup Ecosystem Charts
Startup Funding in United Kingdom2017 - 2024
Startup Funding in United Kingdom 2017 - 2024
From 2022 to 2023, startup funding in United Kingdom has decreased by 41.33%. During this period, the number of deals in United Kingdom has decreased by 27.68%. Since 2017, total startup funding in United Kingdom exceeded US$ $197.11B.
Average Funding in 2023
$7.72M
Funding in 2023
$20.35B
Deals in 2023
2,636
USD
Amount of Funding (USD)
Number of Deals
Ecosystem
The Startup Ecosystem in United Kingdom
Global Rank
The United Kingdom is ranked within the top 10 startup ecosystems globally.
Top Industries
The United Kingdom’s startup scene is best represented in Software & Data, Fintech, and in Ecommerce & Retail.
Top Cities for Startups in United Kingdom - Ranked by StartupBlink
2024 National Rank  | City | Global Rank |  | | | |
|---|---|---|---|---|---|---|
1st 0 | 3rd 0 | 144.375 | 00.00 | 00.00 | 00.00 | |
2nd 0 | 72nd - 9 | 9.776 | 00.00 | 00.00 | 00.00 | |
3rd 0 | 85th 0 | 9.030 | 00.00 | 00.00 | 00.00 | |
4th 0 | 99th - 3 | 7.884 | 00.00 | 00.00 | 00.00 | |
5th 0 | 119th - 18 | 6.448 | 00.00 | 00.00 | 00.00 | |
6th 0 | 121st - 4 | 6.171 | 00.00 | 00.00 | 00.00 | |
7th + 1 | 168th + 2 | 3.733 | 00.00 | 00.00 | 00.00 | |
8th - 1 | 172nd - 14 | 3.598 | 00.00 | 00.00 | 00.00 | |
9th 0 | 188th + 12 | 2.890 | 00.00 | 00.00 | 00.00 | |
10th + 2 | 211th + 11 | 2.292 | 00.00 | 00.00 | 00.00 |
Startups
Notable Startups in United Kingdom
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