Nottingham a ‘hotspot for tech growth’, says report

Mark Sanders

A national report into the rapid growth of Britain’s digital tech industry has highlighted Nottingham as a hotspot for growth.

The Tech Nation 2017 report looks at the key clusters of activity in the UK in a sector behind some of the most transformational new technologies, suggesting they contribute close to £100bn a year to the nation’s economic output.

While London is the biggest centre for digital technology investment in Europe, a number of Britain’s cities are now becoming established as significant clusters of activity – with Nottingham among them.

The Tech Nation 2017 Report says the city has more than 19,700 digital jobs, with people working across the digital sector earning average salaries of £44,000 a year. Digital technology businesses are reckoned to contribute £835m of value to the Nottingham economy, the report says.

The growth of digital technology companies in Nottingham has been driven by the presence of large corporates like Experian and Capital One, and investments in fintech start-ups by leading venture builders such as Blenheim Chalcot.

The report says local support networks, tech industry meet-ups and the availability of co-working space are critical factors in assisting the growth of tech companies and associated scale-up businesses.

In Nottingham, it highlights the presence of Accelerate Places on Wollaton Street, which provides tailored workspace for scale-up businesses and is already home to a number of growing tech industry businesses, among them Oakbrook Finance, Bizfitech, Cronofy and Intelligent Ways.

Mark Sanders, the CEO of Accelerate Places, welcomed the report: “The Tech Nation report provides a very clear illustration of the strategic importance of the tech industry to the Nottingham and East Midlands economy.

“We know from our own experience that Nottingham is a place which works not just for tech businesses but growing scale-up companies generally and we can see that in the numbers of people who have signed up to take space with us here at Accelerate Places.

“What’s important is that we work together to raise the city’s profile as a digital destination, and partner with the universities, Marketing NG and Nottingham City Council to make sure we develop and maintain the talent necessary to fuel that growth.”

Marketing NG is the place marketing organisation for Nottingham and Nottinghamshire and the Tech Nation report, which has been produced by Tech City News, also highlights the work it has been doing in London to attract more inward investment.

Brendan Moffett, Marketing NG’s CEO, said: “This is a great tribute to the growing strength of the digital tech industry in Nottingham. But we shouldn’t be surprised by the city’s prominence – there is a heritage of expertise which goes back to the 1970s, so we can justifiably claim to be digital pioneers.

“The message we’re getting across in London is that doing technology or scale-up business clearly works in Nottingham, with great talent and good co-working space. We’ve got strong corporates, some amazing start-ups and a lifestyle which has many of the attractions but none of the hassles you find in the capital.”

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