- Northern tech firms in England are advocating for the creation of a Manchester-based digital investment fund to challenge the dominance of London and the South East.
- Manchester Digital and various tech companies are urging Greater Manchester Mayor Andy Burnham to establish a collaborative tech cluster in the region.
- The Manifesto for the Northern Tech Economy proposes the formation of a Regional Digital Investment Fund to support startups in the north.
- The initiative aims to create a “Northern Tech Nexus” as a counterbalance to the influence of London and the South East, leveraging the region’s student population and high-growth tech companies.
- Despite government efforts to address regional inequality, northern leaders feel the north is not prioritized, leading to a grassroots approach to securing resources and fostering tech growth.
Regional Tech Investment: Northern Firms Push for a Manchester-Based Digital Investment Fund
In a bid to challenge the dominance of London and the South East, a consortium of tech companies in the north of England is advocating for the establishment of a Manchester-based digital investment fund. This initiative, spearheaded by industry body Manchester Digital and supported by prominent tech firms like Auto Trader, BT, and Booking.com, aims to create a collaborative tech cluster that would bolster the region’s digital ecosystem.
Manifesto for the Northern Tech Economy
The group, through its Manifesto for the Northern Tech Economy, is urging Greater Manchester Mayor Andy Burnham to take the lead in forming a cohesive tech hub that encompasses key northern cities such as Manchester, Liverpool, Leeds, and Sheffield. Central to their proposal is the creation of a Regional Digital Investment Fund dedicated to channeling financial resources into fledgling northern startups. Additionally, the manifesto advocates for the convening of an annual international summit on northern tech and the provision of targeted support for industrial placements to nurture emerging engineering talent.
Manchester Digital chairperson Alison Ross emphasized the potential of northern cities to emerge as the preeminent tech hub in Britain with the right investments and collaborative efforts. She envisions the proposed “Northern Tech Nexus” as a viable alternative to the prevailing dominance of London and the South East. With a substantial student population and a burgeoning cohort of high-growth tech companies, the region showcases promising indicators of its capacity for tech innovation and growth.
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Challenges and Opportunities in Regional Tech Investment
Despite the UK government’s initiatives to address regional disparities and promote equitable tech investment, local leaders and industry players have voiced concerns over the persistent concentration of funding in London and the South East. Jess Jackson, an investment manager at Praetura Ventures, highlighted the discrepancy between the levelling up rhetoric and the tangible support received by northern tech ventures. This disparity has compelled northern stakeholders to adopt a proactive approach, cultivating a resilient and self-reliant ethos to navigate the challenging investment landscape.
The establishment of a Manchester-centric digital investment fund, as advocated by the consortium of northern tech firms, symbolizes a pivotal step towards fostering a more inclusive and dynamic tech ecosystem in the region. By consolidating resources, expertise, and networks across key northern cities, the initiative aims to amplify the collective impact of the region’s tech sector and position it as a formidable contender on the national tech stage.
Building a Robust Northern Tech Ecosystem
Manchester Digital’s vision for a powerful northern tech ecosystem, with Greater Manchester at its core, underscores the imperative of intercity collaboration and alignment in advancing tech growth and innovation. Managing director Katie Gallagher emphasized the significance of a unified northern approach to harnessing the diverse strengths of different city regions for sustained and scalable tech advancement. By leveraging the rich talent pool, academic resources, and entrepreneurial spirit prevalent in northern cities, the consortium envisions a transformative trajectory towards establishing the region as a thriving tech powerhouse.
The call for a regional digital investment fund by northern tech firms represents a strategic response to the longstanding disparities in tech investment across the UK. By advocating for a more balanced distribution of resources and opportunities, the initiative seeks to catalyze innovation, foster collaboration, and unlock the latent potential of the northern tech landscape. Through concerted efforts and collective vision, the northern tech ecosystem stands poised to redefine the contours of tech innovation and set a new paradigm for inclusive and sustainable growth in the digital age.
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