East Midlands is the UK’s fastest growing tech hub, according to a new report

The East Midlands tech hub has grown the most of any region in the UK, according to new figures.

Tech Nation Report calculated that the East Midlands grew at 21% Compound Annual Growth Rate (CAGR) between 2020 and 2025.

This is larger than London at 12%, second placed Scotland (19%) and third placed North East (15%).

Despite this the value of the East Midlands tech hub is $24.7b, which is the 6th most valuable region and has a market share of 2%.

London is considered the most valuable worth $693.7b and accounts for 59% of the UK’s total value.

The report also compared venture capital investment in startups between 2020 and 2024.

VC investment in East Midlands startups in 2020 was £196m. In 2024 it was $150m (-$23.6m).

The UK tech sector as a whole now boasts a combined valuation of $1.2 trillion – making it Europe’s largest, and more than twice the size of Germany and France combined.