33 most exciting early stage scaleups to watch in 2023

Posted on February 8, 2023

Tech Nation today revealed the top 33 early stage scaleups to watch in 2023 in every region, representing the brightest of UK tech with the most potential to scale in the year to come. The 33 regional ‘Rising Stars’ comprise the three most promising tech companies from 11 regions and nations of the UK including East of England, North East, South West, Midlands, Scotland, North West, London, Wales, South East, Northern Ireland, Yorkshire & the Humber. Selected companies or ‘Regional Winners’ will benefit from significant profile raising, masterclasses and networking opportunities to put their business in front of leading investors, influencers and corporates.

Matt Exley, Rising Stars Lead at Tech Nation, said:

“Over the past five years Tech Nation Rising Stars has searched for, supported and celebrated the UK’s best early-stage tech companies. Our expert judges from across the tech economy have selected the 33 from nearly 400 applicants and assessed them on their potential to scale. These companies now receive support on preparing for corporate ventures, improving sales and marketing, engaging with investors and improving their pitch.

Being named a Tech Nation Rising Star doesn’t just get you noticed in the UK; the global tech economy recognises and values this endorsement. These 33 businesses represent the most promising emerging tech teams, products and services of 2023 and are certainly the ones to watch. “

Companies from the 2023 Rising Stars cohort include companies like Safer Date – the only dating app which carries out real-time, biometric ID checks to create a safe environment to users through to Artscapy, a platform dedicated to redefining art buying, collecting and investing by removing archaic and opaque business practices and robotics company Danu who have developed a robotic system for the recycling and waste management industry to significantly increase recycling efficiency.

While 80% of startups fail within their first 2-5 years, over 95% of startups on Tech Nation’s growth programmes have gone on to scale, including companies from Rising Stars. This year, ambitious growth plans are evident among the finalists which Tech Nation will support – 82% plan to expand internationally in the next 12 months and 97% are currently raising investment. Companies have secured funding from a variety of sources demonstrating the range of options available to UK entrepreneurs: 44% have had VC funding, 44% have had angel funding, 38% have had government funding and 21% have had funding from family and friends.

Key trends amongst the 2023 cohort show that 1 in 3 companies are using AI technology in their product or service development. When looking at sectors, healthtech, cleantech and marketing tech came second as top areas of focus for this year’s Regional Winners. Additionally, 45% of companies include at least one female founder and almost 20% include a founder from a ethnic minority.

The Regional Winners are progressing to the Semi Finals in February where the competition will culminate with a showcase of the top 10 National Winners in March. Supporting early stage tech companies to succeed is at the heart of Rising Stars – a Tech Nation competition programme specifically designed to not only showcase the most exciting innovative business on a regional level across the UK, but also to provide them with tailored support, opportunities, network, and access to coaching and masterclasses to help take their business to the next level. Previous regional and national winners of the competition include uFurnish, SeedLegals, Elemental, People Matter, Tickr, and Vitaccess.

The 2023 regional winners are:

Region
Top 3 most promising early stage scaleups
Sector

East of England
Purrmetrix

Medwise AI

RippleXn

IoT

Marketing tech

North East of England
PulmoBioMed

Vibbl

Safer Date

Genomics/AI, Edtech

North West of England
VidiVe