Released today, the Tech Nation 2019 Report presents UK tech on the global stage. You can read the Report online here: technation.io/report2019/#in…. Happy to answer any questions you might have. Continue this thread for North East-specific insight (just my own personal takeaway).
The Report delves into UK tech scaleup activity. Newcastle stood as one of the top 20 UK cities for scaleup tech investment 2015-2018, with £148m of investment during the period. To put that into perspective, London led the way with £9bn and Cambridge was second with £583m. #gap
Cities and clusters in the UK are competing for scaleup investment on the global stage. Clusters are matched with worldwide counterparts, based on the investment that companies based there have received over the last five years.
We looked at the investment trajectories of these clusters, and paired them with where showed similar dynamics. Sector-wide, Newcastle compares with Montreal and Fortaleza, Brazil. While that may not leave much to the imagination, Newcastle is highlighted in the Report for AI.
A key takeaway from the Report is that AI emerges as Newcastle's sector specialism. As a matter of fact, Newcastle is similar to Lyon, New Delhi and San Diego for AI investment. technation.io/report2019/#11….
It's also pleasing that between December 2018 and February 2019 that Newcastle was named as having one of the highest percentage growth rates worldwide. 9% growth in AI and 53% in Ecommerce growth.
So... what does this actually mean in real terms? Let's remember all data is relative. The NE, while 'fast-growing' (which is brilliant btw) is a small tech cluster. This is such a nuanced subject. It's not as simple as fast or slow growing or of being positive or negative.
There's a lot to take in here. This is a global report. In the coming months we'll be releasing further UK city insights. Objective, statistical date complemented by case studies and local insights. In the meantime, please check out technation.io/north-east for headline figures.
If you're really interested in what's happening in NE tech and how it truly measures up, please get yourself along to my Tech Nation Talks: North East evening @weareproto next Thursday. You can register here: eventbrite.co.uk/e/tech-nation-… :-)
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.