A new study has revealed Manchester as the UK鈥橲 Tech Start-Up capital outside of London.
The research by software development experts聽KLOC聽analysed data from Crunchbase for tech businesses created outside the capital since January 2020.
The study measured the number of start-ups per area, the total funding they have received, the average software engineer salary and how the area鈥檚 top university ranks for its computer science courses, with a score out of 10 for each of the four factors.
Manchester achieved the highest overall score of 27.38, thanks to the joint number of tech start-ups in the country in total, with ten. It received a score of eight for its average annual salary for software engineers, standing at 拢38,066. The University of Manchester has the third best rated computer science course of the universities included on the list, giving the city a further 8.8 points.
Cambridge came in second for Tech Start-Up hotbeds outside London, scoring a total of 25.72 points. The city grabbed three points for the number of start-ups in the area and received 3.61 points for being the second highest funded area 鈥� the three Cambridge companies in the analysis received 拢25,774,119 in total funding. Its average annual salary of 拢43,325 for software engineers in the area scored it 9.6 鈥� the second highest. The University of Cambridge came in second place for Computer Science rankings with a score of 9.44.
Edinburgh placed third聽on the Tech Start-Up capital list scoring聽24.28 in total.聽The city聽scored 10 points with ten companies created since聽January聽2020聽and has attracted a total of 拢404,125 for funding. Average聽annual聽salary for聽a聽software engineer stands at 拢38,962.聽
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The fourth area was聽Guildford聽with a score of 24.28. The city has the highest recorded funding聽for start-ups since January 2020聽of 拢71,340,027 and an average聽annual聽salary of 拢40,116.聽
Oxford聽took the fifth position scoring 23.37. The city scored the highest for聽university聽ranking in Computer聽Science, earning it the maximum 10 points in the category, and has聽the fourth highest聽average annual聽pay for software engineers聽– 拢41,762.聽
A spokesperson from KLOC commented:
鈥淭he study highlights that there are plenty of vibrant tech start-up scenes outside London. This is very encouraging for entrepreneurs as it demonstrates that there are plenty of options beyond the capital which can offer lower operational costs and still provide a talented workforce.鈥�
The study was conducted by聽software development specialist聽KLOC聽, which聽designs聽and build bespoke business systems, mobile apps and high-end websites to聽help聽customers improve their competitive advantage, increase profitability and achieve greater agility.
Credit: https://kloc.co.uk/
