A new study has revealed Manchester as the UK鈥橲 Tech Start-Up capital outside of London.
The research by software development experts听KLOC听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.
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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听on the Tech Start-Up capital list scoring听24.28 in total.听The city听scored 10 points with ten companies created since听January听2020听and has attracted a total of 拢404,125 for funding. Average听annual听salary for听a听software engineer stands at 拢38,962.听
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The fourth area was听Guildford听with a score of 24.28. The city has the highest recorded funding听for start-ups since January 2020听of 拢71,340,027 and an average听annual听salary of 拢40,116.听
Oxford听took the fifth position scoring 23.37. The city scored the highest for听university听ranking in Computer听Science, earning it the maximum 10 points in the category, and has听the fourth highest听average annual听pay for software engineers听鈥� 拢41,762.听
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听software development specialist听KLOC听, which听designs听and build bespoke business systems, mobile apps and high-end websites to听help听customers improve their competitive advantage, increase profitability and achieve greater agility.
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Credit: https://kloc.co.uk/
