South West News #8
Our South West tech news round-up aims to give you an insight into the latest tech news specifically in the South West. If you enjoy this, make sure to sign up to our email list to receive updates on more content like this!
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South West early-stage tech companies win accolades in Tech Nation’s prestigious scale-up competition
Two South West start-ups have been named among some of the best new tech companies in the UK.
Exeter-based HR-tech firm Role Mapper Technologies and Bristol environmental start-up Spherics Technology have received accolades from industry experts in Tech Nation’s rising stars’ competition. Role Mapper Technologies was named as the national winner for the South West in a list of 10 early-stage companies deemed as being at the forefront of technology across the UK. Founded by Sara Hill in 2019, the platform’s software allows companies to streamline administration surrounding recruitment and design more inclusive job descriptions to attract a more diverse range of talent.
University of Bristol tech incubator raises £40.2 million in 2020
Despite investment in the South West declining due to the pandemic, a record figure of over half of SETsquared Bristol’s 80 members secured funding in 2020, including six @BristolUni spin-outs and student start-ups. Incubator members also created 225 new jobs in the city region, generated £32 million in turnover revenues, and helped achieve record numbers for leadership diversity. SETsquared Bristol, based at Engine Shed, is an active supporter of making tech more inclusive.
Investment successes include University of Bristol spin-out, Kaedim, which is developing AI technology to make it simpler, faster and cheaper to create digital 3D assets.
Source: FE News 2021
Bath Spa University awards six local tech start-ups and micro-businesses grants and workspace
Six creative technology start-ups and micro businesses have been awarded grants of up to £5,000 by Bath Spa University’s enterprise and innovation hub, The Studio.
A local sound artist, theatre and arts events company and community organisation are among the first recipients of money from The Studio Recovery Fund, which aims to help projects that support post-pandemic recovery efforts in Bath and North East Somerset. The awardees will gain access to The Studio on Palace Yard Mews, which offers free co-working desk space for up to 12 months, meeting rooms, breakout spaces and free workshops and events.
West of England named as leading UK FinTech cluster
Bristol and Bath has been named as one of the UK’s leading FinTech clusters in an independent review of the sector – the findings of which are launched by the Government at the end of last week. The region is featured in the top 10 in the FinTech Strategic Review – led by Ron Kalifa OBE, non-executive director of the Court of Directors at the Bank of England and the vice-chairman of WorldPay.
The review highlights the increasing number of leading FinTech companies in the West of England and the great potential for businesses in financial technology to grow. It makes a number of significant recommendations around five themes including regional connectivity, skills, investment and scaling up, all of which are of major importance to the future of the sector in our region.
Source: Tech Spark 2021
Tech industry to have 100k job vacancies per month by June
Research launched in February 2021 from the UK Tech Cluster Group, supported by the Institute of Coding (IoC), shows that the tech sector has continued to see growth in 2020. Despite the national upheaval caused by the pandemic, 42% of tech companies reported an increase in revenue over the past 12 months (with 32% staying the same) and almost half (46%) said they had increased their employee numbers.
10% of all advertised jobs are currently from the tech sector, the second highest number of vacancies following the healthcare sector. New Tech Nation data shows that, if growth continues at this rate, the tech sector will have 100,000 job openings per month by the end of the second quarter of 2021.
Source Tech Spark 2021