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Academics at University of Edinburgh Business School say Edinburgh’s success as a hub for fintech and software start-ups could be replicated in other cities with the right targeted backing.

The capital currently has the most ‘Unicorn’ $ billion dollar companies per-capita outside the US.

The study found the growth of smaller support organisations, incubators and networking clubs tailored to Edinburgh’s entrepreneurial characteristics have had a significant impact on the development of Scottish start-ups.

The report argues other regions looking to accelerate start-up activity should embrace this approach.

It says cities like Glasgow, Dundee and Aberdeen could benefit from forming similar networks of organisations to support high-growth entrepreneurs based on their unique local needs, rather than the current Scotland-wide -wide approach taken by Scottish Enterprise and Business Gateway.

Dr Ben Spigel, Chancellors Fellow at University of Edinburgh Business School, said:

“Edinburgh significantly punches above its weight as an international entrepreneurial hub.

“Which is in no small part down to the network of more than 40 support programmes – ranging from multi-million pound, Government sponsored organisations – to small coffee groups run for entrepreneurs, by entrepreneurs.

“These groups are so well networked together, their proliferation has allowed specialisation of support for different types of entrepreneurs at different stages in business development.

“There is huge potential to adopt this targeted, city-specific model of support to developing the existing entrepreneurial networks in Scotland’s other major cities.”