Manchester Home to Billion Pound Tech Companies
Manchester becomes home to £1bn tech companies, including Autotrader, Blue Prism, The Hut Group and boohoo.
11:41 28 October 2018
A new research released by venture capital analytics company Dealroom has found that Manchester is now “competing on a global scale” as it becomes home to £1bn tech companies. It highlights that despite Manchester’s smaller population when compared to London, it now has 10 specialist business centres for startup firms and had investment per head of population of £380 in 2017.
Jeremy Wright, Secretary of State for Digital, Culture, Media and Sport, said: “The UK’s track record in creating fast-growing tech companies is second to none in Europe. These new statistics show Manchester and Edinburgh are now competing on a global scale and stellar tech firms are growing right across the country, spreading new jobs and investment. Through our Digital and Industrial Strategies we are creating the conditions to start up and grow brilliant tech ideas into world-beating global businesses and pushing the boundaries of science to change people’s lives for the better.”
Matthew Moulding, Founder and CEO of The Hut Group, said: “Manchester led the industrial revolution and generations later the digital tech sector is providing new prosperity and jobs for the people of the city. At The Hut Group we have grown into a global company from our Manchester home, with access to talent and supply chains worldwide. You don’t need to be in London to grow an international business.”
Mike Gordon, CEO of TransUnion (formerly Callcredit), said: “Over the past decade, Leeds has affirmed its place as a digital hub, and we’re proud to be a part of that. We’ve been fortunate to benefit from a great local pool of talent as we’ve grown, with our innovation and expertise attracting international investment. Now, as TransUnion, we’re part of a global network, with access to a broader range of products and technology to enable our continued expansion.”
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