Bristol ranks top five for UK tech growth

Posted by 

SETsquared Bristol

Bristol has been named one of the UK’s fastest growing tech cities following what was a record year for the sector in Britain in 2021. The city has been ranked fifth for regional UK tech growth in the Digital Economy Council’s new ‘Levelling Up Tech Power League’ report.

Tech firms received £26 billion in venture capital (VC) funding nationwide, with £111 million raised collectively by Bristol companies. Of this figure our alumnus, Ultraleap, raised £60 million alone to further develop and commercialise its revolutionary hand tracking and mid-air haptics technologies.

Ultraleap are earmarked to join Graphcore, OVO Energy and Vertical Aerospace in becoming one of the city’s next unicorns, startups worth more than $1bn, with the number of Bristol unicorns predicted to double to six in the next few years.

Nigel Toon, Co-founder and CEO at Graphcore commented on the research:

“There is no longer any debate over whether you can build a multi-billion dollar tech business in the UK. The investments made over the past few years into startups and scaleups across the country are producing outstanding results and I look forward to seeing how ecosystems like Bristol’s grow and thrive over many years to come.”

Startup innovation and job opportunities have helped secure Bristol’s reputation as one of the UK’s top tech hubs. According to the analysis, the city has over 3,000 technical job opportunities with an average salary of £50,404 – the highest outside London.

UK tech investment accounted for a third of the total £89.5 billion that flowed into the European tech ecosystem last year, which means more investment into regional areas, more job opportunities and more ‘futurecorns’.

Recent News, Blogs and Stories

Resized for website thumbnail

Innovative tech companies announced for Tech-Xpo 2022

Sixteen of our member companies will exhibit and demo their innovative products at our flagship Tech-Xpo 2022 showcase on 29 June. The companies shortlisted to compete for Best Elevator Pitch award are:...
Zentraxa scientist in lab

Biomaterials startup Zentraxa announce seed investment

Our member company and University of Bristol spin-out, Zentraxa, has raised capital investment from Future Planet Capital, BPEC and Science Angel Syndicate to develop their innovative Zentide platform for engineering...
Neighbourly team at Engine Shed

Neighbourly move to Engine Shed following investment raise

Our alumni member, Neighbourly, the community investment and engagement platform, is moving into our SETsquared Bristol home, Engine Shed, following another successful funding round of £1.6 million led by Guinness...

SUCCESS IS THE GOAL

Fast track your technology business