UK tech captured more than a third of the total (£89.5 billion) investment into Europe in 2021, with £29.4 billion raised by UK start-ups and scale-ups. With more money than ever flowing into UK tech – £29.4 billion in 2021, up from 2020’s £11.5 billion – almost £9 billion of all venture capital invested went into start-ups and scale-ups outside London and the South East. The regions are home to nine of the 29 unicorns formed in 2021. The combined value of UK tech companies founded since 2000 is now £540 billion, after the biggest year-on-year increase since 2013/14. The UK is more attractive to international investors than ever, with 63% of tech investment in 2020 coming from overseas, up from 50% in 2016.
Gloucestershire has the largest cluster of cyber security companies outside of London, and is home to Government Communications HQ (GCHQ) and the National Cyber Security Centre (NCSC). The demand for cyber security solutions has accelerated because of a rising number of cyber-attacks, an increasingly diverse range of vulnerabilities, plus our greater reliance on cloud services. With its cutting-edge expertise, the UK’s cyber security industry is growing rapidly. The COVID-19 pandemic has seen a huge shift in working patterns and digitisation, meaning that robust cyber security measures are needed more now than ever.
An opportunity exists to take advantage of digital assurance and accreditation to provide a range of cyber security solutions in industries such as finance, healthcare, mobility, telecoms, legal, energy, critical infrastructure and agri-tech. Global investors can exploit this demand from Gloucestershire, a region that benefits from world-class academic research, open access facilities and a well-integrated supply chain.
The UK is one of the best places in the world to develop artificial intelligence (AI) and data analytics, with the sector worth over £15.6 billion. Leeds is home to a thriving data science cluster that works across multiple sectors including financial services, healthcare and creative. A strong digital and data-centred heritage highlights an established ecosystem of innovation that you can take advantage of.Immersive technology is optimising the design, construction, operations and maintenance of assets across sectors including renewable energy, maritime and advanced manufacturing. The North East has a thriving manufacturing sector and an extensive and differentiated emerging technology support infrastructure. Combined, this has created a truly unique and collaborative cluster.
Demand for next-generation immersive technologies is growing as the UK’s manufacturing sector actively seeks new solutions to improve manufacturing efficiency and reduce emissions. The North East of England is in an excellent position to lead the global immersive technology market, offering businesses the opportunity to service growing world demand. Work with the existing local digital and immersive tech community and utilise key capabilities including PROTO and the Digital Catapult North East and Tees Valley to design, develop and commercialise new immersive technology.
