Scotland outpaces England for growth in startups looking for angel investment

Data compiled by Angel Investment Network and based on more than 100,000 businesses from 2018 has revealed that the detailed picture of the rising entrepreneurial culture rapidly developing across the UK.

Some of the key findings include:

• London is unsurprisingly the number one venue for startups, home to a third of all pitches submitted in 2018.
• The South East is number two, but hot on its heels is the North-West. There was an impressive 40 per cent growth in pitches in this region, the fastest growing English region.
• Scotland has leapt up two places in the rankings, now coming number seven for pitch ideas, growing its overall market share and overtaking Yorkshire and Humber and East Anglia. It grew market share quicker than any other English region.
• Overall software is the top sector for both investors and pitch ideas.

AIN founder Mike Lebus, said: “The UK is buoyant as a home for entrepreneurs, and London remains the dominant force in the UK startup scene. However, it is losing a small amount of market share year-on-year as other regions continue to grow. The top performing sectors were software and technology; and with hubs like Edinburgh and Manchester gaining reputations for excellence in these sectors, we expect this trend to continue.”

The entrepreneur hotspot list is as follows:

1. London
2. South East
3. North West
4. South West
5. West Midlands
6. East Midlands
7. Scotland
8. Yorkshire and Humber
9. East Anglia
10. Wales
11. North East
12. Northern Ireland

AIN also revealed the top performing overall sectors for pitches and investors.

The Top 10 Sectors for Pitches:

1. Software
2. Property
3. Food & Beverage
4. Hospitality
5. Transportation
6. Fashion
7. Media
8. Agriculture
9. Technology
10. Manufacturing

The Top 10 Sectors for Investors:

1. Software
2. Food & Beverage
3. Property
4. Technology
5. Hospitality
6. Medical
7. Transportation
8. Business Services
9. Energy
10. Agriculture