UK tech continues to expand at faster rate than wider economy according to Tech Nation Report 2018
Tech Nation (formerly Tech City UK) have released their comprehensive annual report on the state of UK technology. And here are some of the headlines:
- Tech expanding 2.6x faster than the rest of the UK economy
- Digital tech sector worth nearly £184bn to UK economy, up from £170bn in 2016
- The UK’s digital suburbs and tech towns are booming, with 16 towns showing a higher proportion of digital tech employment than the UK average
- Diversity in digital tech on improving trend: figures show more black, Asian and ethnic minority workers employed in tech than across the UK in general (15% v 10%)
- 72% of UK digital tech workers are over 35, in line with the whole UK workforce
- London ranks as second most connected place for tech on planet, after Silicon Valley
- London beats Silicon Valley when it comes to proportion of overseas customers
- Berlin is the only other European city in the top 10 list of global ecosystems
The Tech Nation Report focused on cities, including Cambridge, where 'Silicon Fen' entrepreneurs are close at hand and CW are based.
The findings from the Cambridge cluster proved that the city's well-established tech community continues to thrive whilst growth in the combined Cambridge City and South Cambs locations have accelerated over the past year.
Since the 2017 report, a number of changes have been made, (or announced), to help the Cambridge tech community thrive even more, such as:
- Cambridge North Staion opened in May 2017, providing easier access for those travelling to the Cambridge Science Park and Cambridge Business Park.
- A new station, (hoping to open in 2021), will provide a service for those travelling to the booming Cambridge Biomedical Campus.
- The Bradfield Centre, which opened in June 2017, has welcomed more than 200 entrepreneurs to their state-of-the-art co-working centre based at the heart of the Cambridge Science Park. The Bradfield Centre has proved to be a dynamic environment in which science and tech companies can learn from each other and translate research into commercial applications and businesses.
- The Cambridgeshire and Peterborough Independant Economic Review (CPIER), which launched in January 2018, is assessing the case for greater fiscal devolution which will unlock the delivery of major infrastructure to the region. They are currently seeking feedback on their interim report.
As well as mentioning the ways in which the Cambridge cluster has benefited in the past year from the handful of changes mentioned above, they also discussed the popular meetup groups that are based in Cambridge, (with the CW Events Meetup page making the cluster!), as well as publishing interviews with Cambridge companies Darktrace Ltd. and Geospock.
Working alongside innovative start-ups and major organisations on a daily basis, CW are thrilled with the results of the Tech Nation Cambridge cluster results, showcasing that the tech community is continuing to thrive. Robert Driver, CEO of CW had this to say
The Tech Nation Report 2018 shows the UK tech industry expanding 2.6x faster than the rest of the UK economy, with the industry now worth £184bn up from £170bn in 2016. As a technology membership organisation, we have the privilege of working with amazing companies, from start-ups to major organisations who all contribute to the leading tech talent that the country has to offer.
In our home town, Cambridge’s well-established tech community continues to thrive.
CW is located at the heart of the Cambridge tech cluster in the Bradfield Centre, so we get to experience entrepreneurs from across the globe - as well as the fantastic home grown world-class talent building businesses here.
It’s great to see the technology communities across the UK joining up through the Tech Nation initiative. Stronger together!
The online report includes in-depth data visualisations for exploring the digital tech sector in all parts of the UK, as well as recommendations for tech businesses, policymakers and corporates for further accelerating the growth of UK tech.