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  "documentTitle": "unlocking growth creating tech ecosystems",
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  "authorName": "Barclays Eagle Labs",
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  "notes": "The chart demonstrates a correlation coefficient of 0.88 between high-growth companies and GVA.",
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      "text": "The number of active high-growth companies in a local authority area has a correlation coefficient of 0.88 with the Government's latest figures for local authority GVA, suggesting there's a positive relationship between the two.",
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      "text": "The relationship between GVA and the number of high-growth companies by local authorities outside London",
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      "text": "Gross Value Added (GVA): 0.88",
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      "text": "The number of high-growth companies has a strong association with the Gross Value Added (GVA) that's generated in a local authority area. GVA is a measure of the goods and services produced in an area and a key metric for local authorities. The number of active high-growth companies in a local authority area has a correlation coefficient of 0.88 with the Government's latest figures for local authority GVA (Office for National Statistics 2018), suggesting there's a positive relationship between the two. In more concrete terms, local authority areas that are home to 100 or more high-growth companies have an average GVA per head of population of £138k compared to £22k for local authority areas with less than 100 high-growth companies. This demonstrates the presence of a local tech and high-growth company ecosystem can help to drive the creation of signification value, both through the sale of high-value products and through high salaries.",
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