Greater Manchester tech investment opportunity continues to soar as over 75% of businesses seek growth capital
New data released from Tech Climbers has revealed how Greater Manchester’s tech sector continues to thrive, as companies plan to attract millions in investment and create hundreds of jobs with 77% of businesses seeking growth capital this year.
Greater Manchester’s tech ecosystem is outpacing the growth of other regions around the UK, with 66% of entrants to this year’s Greater Manchester Tech Climbers list already in receipt of funding, contributing to the £20.1m raised by the region’s startups this year, according to The Data City.
The data also projected that almost 400 jobs would be created by entrants over the next 12 months, as the region continues to become an attractive hub for talent.
19 companies were selected for the inaugural Greater Manchester Tech Climbers list, with seven making the ones to watch list. The winners were announced at a sold-out event held at the headquarters of one of Greater Manchester’s greatest startup success stories, Peak AI, on the 17th October.
The list is judged by the project partners and selected experts, and reviews investment, impact, and innovation performance to date. Entrants submit a snapshot of their data which is also used to chart growth and insight into the businesses and their challenges.
Anna Heyes, founder of Tech Climbers and CEO of Active Profile: “Tech Climbers 2023 in Greater Manchester has revealed exactly why we launched here this year. The ecosystem is developing at pace, and there are challenges that companies are rising to across the board. The region is fast on the road to becoming the UK’s biggest tech hub, driving millions in funding, and creating thousands of jobs, but there’s still loads to be done together as a community.”
“From the recent launch of the Turing Innovation Catalyst to Google launching its AI-driven ‘Project Green Light’ in conjunction with Transport for Greater Manchester last week. It’s a fantastic place to be, and we’re privileged to be celebrating some of these incredible businesses as part of our 2023 Tech Climbers list.”
Ayan Mohamed, founder of 2023 Tech Climber Digitech Oasis added: “As we celebrate being part of Greater Manchester Tech Climbers 2023, we reflect on our journey. For Digitech Oasis, the climb isn't just about reaching new heights; it's a strategic ascent fueled by innovation. Our experience echoes the broader sentiment— particularly significant as female founders, contributing to the vibrant diversity of Greater Manchester's tech scene.”
“Greater Manchester's tech scene is a dynamic landscape, and platforms like Tech Climbers provide not just recognition but a stage for collaboration, investment, and growth. We entered to share our story, but more importantly, to connect with fellow climbers, investors, and partners who share our vision of shaping the future through technology. This initiative is more than a list; it's a community, and we're proud to be part of it.”
Ben Davies, founder of Vypr, also a 2023 Tech Climber commented: “After a decade of raising nearly £10m of angel and institutional investment for Vypr, I can safely say Greater Manchester has become an outstanding ecosystem for entrepreneurs to raise money for ambitious, scalable businesses. The network of angel investors is really strong, enhanced by the influx of wealth into the city over the last decade. What was once a small pool of regional Venture Capital funds has developed into a strong body of investment funds willing to back ambitious northern businesses to achieve significant growth.”
“Events like Tech Climbers bring early stage & seasoned entrepreneurs together with the investment market to form new relationships and cement existing ones.”
