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East Midlands Chamber News

Number of East Midlands Tech Firms Grows

The number of technology-related enterprises in the East Midlands private sector has risen by 19% since 2010, according to the latest Tech Monitor UK Survey by Chamber patron KPMG and Markit.

Between 2014 and 2015, growth was at 6.6%.

Of all UK regions, the East Midlands is number eight on the list of those with the greatest proportion of tech sector enterprises, with them making up 6.2% of businesses within the region. Top of the list is London, followed by the South East and with the West Midlands coming fourth.

The research shows that the East Midlands leads the way nationally on the manufacture of electrical equipment, with the highest regional concentration of those businesses of any UK region. And while South Northamptonshire boasts the highest cluster of tech enterprises in the region, it is also placed 22nd out of all local authorities in the UK for the fastest rise in tech sector enterprises in the past year.

Commenting on the Tech Monitor UK Survey, Ian Borley, East Midlands Senior Partner for KPMG, said: “It is important that the UK has a strong tech sector and vital for the East Midlands to play its part in that, so it is hugely encouraging to see our region’s tech industry grow by 19% in just five years. Perhaps more importantly, we are carving out niches in the East Midlands, building on our region’s heritage in areas such as manufacturing, but doing so in a modern and innovative way.

"This creation of tech centres of excellence will create a virtuous circle of attracting global investment and acting as a magnet to the best tech talent.

“Although we have seen the number of tech enterprises grow so significantly, we can’t take this for granted: it is important we see the tech sector prioritised by national and local government and also put real focus on key issues such as STEM subject education, investment in regional infrastructure, including broadband, and an adequate regulatory framework.”