Posted on June 4, 2019 by staff

Leeds sets Northern record for tech investment


New data reveals that investment into Leeds-based tech companies broke Northern investment records in 2018, totalling $138 million (£108.8m).

Across the UK, venture capital investment in tech broke new records in the first half of 2019, totalling $4.8bn (£3.8bn) in the first five months of the year.

London attracted the most investment throughout the whole of 2018 with £3.8bn, followed by Cambridge, Oxford and Bristol.

Leeds was the leading Northern city. Manchester came eighth, behind Cardiff and Edinburgh, with almost £60m.

Brighton and Glasgow rounded out the top 10, followed by Nottingham, Newcastle and Sheffield.

The data was revealed as part of Data Commons for UK Tech, a joint initiative by government-backed entrepreneur network Tech Nation and Amsterdam-based investment tracking platform platform Dealroom.

The new national database provides a 360-degree view of the ‘innovation economy’ across the UK for investors, entrepreneurs and policy makers.

The data commons is designed to provide investors and entrepreneurs with the information they need to develop their business plans and network with a broad range of potential partners within the ecosystem, to accelerate their growth.

Digital Secretary Jeremy Wright said the initiative was timely.

“International and UK-based investors are pumping record amounts of cash into our thriving technology industry and, as they arrive in the capital for London Tech Week, this new tool will provide them with a rich new open data source to inform their decisions,” he said.

George Windsor, Head of Insights at Tech Nation said: “Our team will work on the ground across the 11 regions and nations to encourage adoption and contribution to this resource and to make sure that it truly captures the entire ecosystem.”

Yoram Wijngaarde, CEO and Founder at Dealroom, added: “The Data Commons for UK Tech represents a special project for us.

“As a system that is open to all, we believe it will ensure that stakeholders in Britain’s innovation economy have the data and insights they require to make good decisions as well as encourage users to become part of a community in which data is shared for the good of everyone.”