Manchester named as fastest-growing tech city in Europe

Manchester has been recognised as the fastest-growing tech hub in Europe, measured by the rate of increase in venture capital funding, with investment jumping from 48 million pounds ($59 million) in 2018 to 181 million pounds in 2019, industry body Tech Nation said.

As well as Manchester, Britain had four other cities in the European top 20: London, which ranked top in Europe, Bristol, Oxford and Cambridge, the report said.

Manchester tech has had a stellar year, in part thanks to the successful IPO of eCommerce giant The Hut Group which has demonstrated the calibre of tech companies across the region. The area’s rich heritage in manufacturing has helped to power the city’s growing eCommerce industry with other unicorns in Manchester including AutoTrader and On The Beach.

Thanks to these fast-growing tech companies, the digital tech sector in Manchester employed more than 100,000 people in 2019 according to data from ONS, Tech Nation, the UK network for ambitious tech entrepreneurs, and job search engine Adzuna. Yet the industry has the capacity to grow even more, with high demand for talent across a variety of companies. There are 3,690 IT vacancies across the city alone, with 4,235 open jobs across Greater Manchester.

Minister for Digital Caroline Dinenage said:

“Manchester’s tech star has been rising for the past few years and the recent success of The Hut Group has helped to cement the city’s reputation as an industry hub to rival the capital. 

“These new figures show it is creating new jobs and opportunities, and I am delighted that some of the country’s leading tech talent are coming together to discuss how we can help further strengthen the UK’s reputation as Europe’s leading tech player.”

Dr George Windsor, Head of Insights at Tech Nation said:

“New data on Manchester’s tech industry demonstrates how much the city’s tech credentials have grown and it’s great to be able to celebrate the successes of startups across the region. This event will be a perfect opportunity to bring together some of the best minds in the North West to discuss how the sector can help both the national and regional economic recovery.”