New data suggests that 71% of tech companies in Yorkshire are actively looking for investment for growth.
This is one of the key findings from data collected from entries to the 2023 Yorkshire Tech Climbers list, which also found the companies asked are projecting an average of 94% revenue growth in the next 12 months.
The Tech Climbers list is an annual list showcasing of some of the rising stars of the region’s tech sector.
A total of 19 companies were selected for this year’s Yorkshire Tech Climbers list, with another six up-and-coming businesses making the ‘ones to watch’ list. You can see the full list at the link below.
A record 63 tech firms applied to this year’s Yorkshire Tech Climbers – a 50% increase from last year, when it was focused exclusively on the Leeds City Region.
The successful businesses joined more than 100 representatives from across Yorkshire’s burgeoning tech sector at an event in the Sky Lounge, Double Tree Hilton Leeds, on Tuesday evening. The event was hosted by BusinessCloud and TechBlast executive editor Chris Maguire.
As well as hearing from some of the newly-named Tech Climbers, the audience heard new data from The Data City, highlighting the resilience and ambition of Yorkshire’s tech sector, despite the growing cost of living crisis.
Key findings included:
• 60% of entrants are looking for seed or Series A funding
• On average the entrants were looking for funding in excess of £900k
The data also revealed that 100% of 2023 entrants were looking to hire new talent within the next year, projecting the creation of 301 new jobs in the region’s tech sector.
Anna Heyes, founder of Tech Climbers and CEO at Active Profile said: “Tech Climbers shines a light on tech in growth regions throughout the UK and this year Yorkshire has really upped its game and showed that together, the local ecosystems in the region’s cities are home to brilliant businesses with sizeable growth aspirations.
“Our data shows the impact that tech is having on job creation in the local economy, and that there is an investor opportunity here for the taking.”
Councillor Jonathan Pryor, deputy leader of Leeds City Council and Executive Member for Economy, Culture and Education said: “We are proud to be a partner of Tech Climbers Yorkshire and support the Yorkshire tech community.
“By focusing on our local scaling tech businesses, we aim to encourage entrepreneurism, drive growth and foster innovation, aiding the creation of new jobs, which will all have a positive impact on the region.
“We believe that Yorkshire has the potential to become a major player in the global and emerging tech industry, and we are committed to helping it get there.”
Councillor Martin Smith, Chair of the Economic Development and Skills Committee, said: “It is fantastic to see five Sheffield businesses make the Tech Climbers lists for 2023. As a city we work hard to create an ecosystem that nurtures start-ups, and Sheffield is home to a thriving tech scene with outstanding talent. It’s great to see that recognised.
“Opportunities to grow are crucial to creating a city where start-ups can scale up and become more successful. In Sheffield, entrepreneurs can contact Business Sheffield to access help, advice and guidance to help them grow, as well as funding opportunities.
“Successful start-ups and scale ups can bring huge benefits to the local economy, which is why we are so committed to supporting entrepreneurs in Sheffield.”
Matthew Bray is CEO of Leeds-based SatSense, which helps clients access and interpret satellite ground movement data.
Founded in 2017 the company employs 15 people and has been growing by more than 50% annually since it started trading. Clients include Network Rail, multiple water utility companies and National Highways.
Bray said: “Yorkshire Tech Climbers is hugely important. It’s bringing together a lot of different industries, plenty of great ideas and creates knowledge sharing opportunities.
“We have a great suite of investors and advisers in the region. We have an excellent talent pool, and tech will play a huge role in the future of Yorkshire.”
Tech Climbers Yorkshire partners this year are Hyperact, BDO, Mercia Asset Management, Page White Farrer, TD SYNNEX, Ward Hadaway, The Data City, Climb 23, Fintech North, Business Sheffield, Leeds City Council, Leeds Digital, Zut, and the Science and Technology Facilities Council.