Over the past year, following input from start-ups, investors, local government policymakers and other members of the tech community, we’ve been exploring how local government can help to create a supportive environment for tech clusters to grow and scale. And now we’ve launched our guide for local government policymakers on how they can encourage the tech sector in their local area – Regional and National Ecosystems: Untapped Potential.
Tech clusters are critical to accelerate the growth of startups, helping them to attract and retain talent, secure investment and access mentorship. Many tech clusters develop their own specialisms, from semiconductors in Wales to gaming in Brighton, and development of these clusters can help level up communities around the UK.
The tech sector is one of the fastest growing sectors of the UK economy, with investment growing an incredible 2.3 times in 2021. However in many areas, particularly access to investment, there is a bias towards London: according to research conducted by the British Business Bank, whilst the UK business scene is split 55/45 between the top four regions (London, South East, East of England, North West) and everywhere else, 86% of equity investment goes to that 55%.
The guide lays out the path for how local tech clusters can be facilitated throughout the UK – you can read it here.
We’re also hosting a panel discussion with Shoosmiths tomorrow (5th April) where we’ll be discussing the report and more with policymakers and other stakeholders – you can sign up here.