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Regional spotlight: Why Leeds is a hotbed for tech scaleups

Leeds docks tech scaleups

The first commercially successful steam locomotive was built in Leeds in 1812. Today, it’s full steam ahead for the West Yorkshire city’s tech ecosystem, which is producing trailblazing scaleups at an impressive rate.

For several years Leeds has had some of the fastest scaleup growth in the North of England – defined by companies that have achieved three years of 20% growth in revenue or employees.

Investors have taken notice. In the year up to September 2022, Leeds-based tech startups secured £288m in venture capital investment, up 88% on the year prior, one of the few cities to buck the funding downturn.

Combined, the so-called ‘Northern Triangle’ tech startups – those based in Manchester, Leeds and Sheffield – have raised £1.3bn in funding over the last five years....