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Investment in region's tech sector gathers pace

Capital investment into the technology sector in the East of England has grown at the fastest rate in the country over the past 12 years according to the Tech Nation 2019, government survey of the sector. It has risen by 206 per cent over the last 12 years. Meanwhile the report identifies 19,090 tech companies in the East, which generate a turnover of £8.33bn and employ 89,000 people with an average productivity of £101,000 per person. Linn Clabburn, programme director of the Cambridge Norwich Tech Corridor, said: “The Tech Nation report highlights the importance of the East to the UK’s thriving tech economy. Our world-leading research centres in Cambridge and Norwich are undoubtedly a big draw for businesses and investors, but the rapid growth of funding into the region is testament to the innovative, ambitious companies based throughout the Tech Corridor tackling the big issues facing society around food, energy, medicine and mobility." Firms in Cambridge’s tech cluster attracted £583m in new funding in the last year, making it the second most popular UK destination for investors behind London.

The report also highlighted the growth of the tech sector in Suffolk. Tim Robinson, chief operating officer at TechEast, said: "The Tech Nation report identifies the East of England as the 3rd largest tech cluster in the UK by revenue and cites important digital skills initiatives designed to boost Ipswich’s talent supply including a new Creative Computing Centre and  a joint BT/University of Sufffolk skills and innovation accelerator which has received £6.5m in funding. The tech scene in Ipswich is described as ‘thriving’ with grassroots tech organisations helping build a ‘real buzz’ in the digital community."

Last Updated ( Wednesday, 12 June 2019 11:48 )

 

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