HULL, 11th February 2016: Tech City UK, the UK government backed organisation tasked to accelerate the growth of digital businesses, along with innovation charity Nesta, today launch the Tech Nation 2016 report in partnership with core data partner, GrowthIntel. The most comprehensive analysis of the UK’s digital tech industries to date, Tech Nation 2016 underlines the economic importance of digital tech businesses, with the number of businesses in Hull growing by 24% between 2010 and 2014. Tech Nation 2016 found the digital tech economy has a strong impact on employment nationwide and is creating highly paid job opportunities, with 1.56 million people employed in the sector, including 6,070 in Hull.
Key findings for Hull:
- Digital employment: 6,070
- Average salary in digital tech industries: £37,258
- Digital GVA: £189 million
- Digital density (digital businesses as % of total businesses): 16%
- Key sectors (compared to UK): E-commerce; apps & software development; data management & analytics; hardware & devices
The Tech Nation 2016 report is produced jointly with Nesta, who led on the data collection and analysis as well as initial drafting of the report. The report was also supported by core data partner GrowthIntel. Contributing data partners include AngelList, Burning Glass, Crunchbase, dealroom.co, Frontier Economics, Github, InvestNI, Leeds Data City, and Meetup.
With more than 2,000 respondents from digital businesses across the country also contributing insights, the latest iteration of Tech Nation 2016 showcases the continued growth and evolution of the UK’s digital tech economy.
Ed Vaizey, Minister for the Digital Economy, comments,
“Digital technology companies are redefining the UK’s business landscape whilst creating new opportunities for entrepreneurs, investors and workers across the country.
“Tech Nation 2016 sets out how digital tech innovation is disrupting the UK economy, creating high-quality employment opportunities and driving productivity nationwide. We are delighted to present these findings, which show how Britain’s digital technology technology continues to influence the wider business economy.”
Gerard Grech, CEO of Tech City UK, comments:
“Tech Nation 2016 provides an unprecedented insight into the growing economic importance of the UK’s digital businesses.
“This report not only demonstrates the extraordinary growth rate of our digital tech industry, as well as its also its profound influence on non-digital industries. “We hope Tech Nation’s findings will prove invaluable to industry, investors and digital businesses themselves, acting as a detailed topography of the UK’s digital economy and signposting where future opportunities lie.”
John Connolly of C4DI, said:
“Tech Nation 2016 shows that digital tech businesses are powering the economic growth of Hull. Our specialisms in e-commerce, app development and data analytics are developing the cluster a reputation for digital excellence. As digital tech businesses are now enabling disruption across a wide range of traditionally non-digital industries we will ensure the continued success and growth of this cluster for years to come.”
Matt Abbott of Label Worx, said:
“Having close working relationships with the local community of digital companies in Hull has been of huge benefit to Label Worx. The ability to share ideas and expertise across a collaborative cluster enables our business to grow faster and more sustainably. The digital tech ecosystem here is gaining momentum and recognising the potential of Hull will attract more entrepreneurs to the region.”
The full report can be seen here :