Combined turnover of digital tech firms tops £3.6bn across Yorkshire

The combined turnover of digital tech firms across Yorkshire now totals £3.67bn, according to the latest Tech Nation report.

Findings show that 53,000 people are employed in the sector across the region in 8,695 companies. In terms of the greatest increase in capital invested across tech firm, East of England recorded the greatest increase at 206%, with Yorkshire coming in at 51%.

Tech Nation said the UK was “punching above its weight” as it found that the total venture capital investment in UK tech stood at £6.3bn in 2018 – more than any other European country. It also said that investment for UK scale-up digital tech firms grew 61% between 2017 and 2018.

The Tech Nation report publishes in a week when TheBusinessDesk.com’s roundtable special report looks into the strength of Yorkshire’s technology sector. This discussion, attended by leading businesses in the region, explores funding, collaboration, skills and much more with the technology sector.

Innovation and collaboration strong in the tech sector

Tom Wolfenden, of Sheffield Technology Parks, said: “I feel like Sheffield is genuinely turning a corner in that we’re starting to see a lot of people not only found businesses but keep them here too. For a long time, we lost talent and businesses to Leeds or Manchester. There’s still a cultural reticence to shout about success. We’re working to address this cultural shift which will ultimately help the economic development we’re here to achieve.”

Eve Roodhouse

Talking of Hull’s growth in the industry, David Shepherdson, co-creator or HullCoin, said: “Hull, in its own idiosyncratic way, is both competing with other cities in terms of external investment but more importantly is nurturing tech within a commercial, civic and social context, building a solid and sustainable infrastructure within the process. There is a growing understanding from policy makers, business leaders and politicians that the digital agenda is not an ‘add-on’ in terms of driving economic growth and sustainability; it is something that is integral to any business, local authority department or charity.”

While Eve Roodhouse, chief officer for economic development at Leeds City Council, added: ““Leeds is distinctively ambitious, powered by innovators, entrepreneurs and social pioneers. There is real momentum across the city with the arrival this year of a Barclays Eagle Lab in the AvenueHQ coworking space, NEXUS (the University of Leeds Innovation Centre) and Co>Space North, a space for people passionate about digitally enabled health and care to connect, collaborate and co-create.”

Close