Leeds Ranked Third in Emerging UK Tech Hubs
Last year, TNT took an in-depth look into the UK’s tech hubs to see which cities were leading the way. Interestingly, it revealed numerous parts of the UK were experiencing more significant growth than others. Leeds was discovered to be one of the most substantial emerging tech hubs in the country.
Here, we’ll look at what the research from TNT revealed and why Leeds is leading the way in terms of the digital sector.
What factors contributed to the rankings?
There were numerous factors which contributed to the rankings produced by TNT. These included:
• Download speeds
• Average cost of office space
• Start-up survival rate
After analysing these three factors, Reading took first place, followed closely by Bristol and then Leeds. Coming in at number six was London. Although the capital has the fastest download speeds in the UK, its notoriously expensive office space is ultimately what dropped its rankings.
Other notable factors which contributed to the rankings included the number of people employed in the tech sector and the overall tech employment rate.
Could Leeds’s tech hub rival San Francisco?
Leeds was the only city in the north of England to feature in the top three spots. The city beat Manchester which didn’t even make it into the top 10. This isn’t surprising given that the city has been pegged to become a serious rival to San Francisco.
Many major tech companies such as CCP Group and First Direct, have made Leeds the base for their headquarters. It is thought to bring in £6.5 billion to the city’s economy, with over 102,000 people employed in the tech sector. Each year, Leeds hosts more digital events in two weeks then anywhere else in the UK.
There’s no denying the city is one of the fastest growing tech hubs in the UK, attracting a high level of tech start-ups. While it may not rival San Francisco just yet, it’s certainly on its way to becoming a serious competitor.
The importance of fast internet access
This recent research into the UK’s emerging tech hubs has revealed the importance of fast internet access. Many emerging tech hubs are heavily focused on the ecommerce sector. This means it’s imperative for them to have fast broadband speeds. Those not currently taking advantage of the fastest broadband, could be missing out on a lot of potential business.
This recent research shows how the UK is quickly becoming a leading player in the tech sector. Leeds has shown impressive digital growth over the past 10 years. When you look at the amount of money it is drawing in, as well as its start-up survival rate, it’s easy to see why some experts are predicting the city to rival San Francisco’s tech hub.