Manchester Grows as Tech City
Investment in the technology sector in Manchester City grew 277%, New Tech Nation reveals.
23:21 24 March 2020
Manchester has been named the fastest growing tech city in Europe by New Tech Nation. The UK Tech Network reveals that investment in the city has jumped from £48million in 2018 to £181million in 2019 and that the city’s technology sector has contributed to £149billion to the UK economy in 2018.
Besides Manchester, Cambridge, Oxford, Bristol and London were also named in the report as some of the top 20 highest investment tech cities in Europe.
Poppy Gustafsson, CEO of London-headquartered AI cybersecurity firm Darktrace, commented: “It is fantastic that the UK stands as one of the top 3 countries investing in AI globally. The lifeblood of brilliant technology companies is access to capital and great talent, and Britain has both of these ingredients.”
Eileen Burbidge, Partner at Passion Capital and Chair at Tech Nation, added: “The latest findings from Tech Nation today evidence the impact the tech sector has on the UK economy,” she said.
“FinTech continues to be one of the UK’s key strengths, with 44% of Europe’s FinTech unicorns and high-value scale-ups being located in the UK.”