Why Bristol's Emphasis on Local Tech Companies Creates a Fertile Ground for Startups
Right now, it would seem that there is a Silicon Gorge cluster, and this encompasses Swindon, Bath, Gloucester and, finally, Bristol. These cities seem to have created a hub of innovation while also ensuring that world-class talent is drawn to the southwest region. Bristol in itself is home to numerous strong tech companies, but why is this the case? Why is Bristol becoming such a hub when cities like London are falling so far behind? Find out here.
Bristol has a High Growth Landscape
Today, Bristol covers more than 450 private businesses, and it is the fourth-biggest city when it comes to startups. The biggest would be Edinburgh, and then you have Manchester and Leeds in third. The city is a leading hub when it comes to startup companies in the UK. Bristol has a rapidly growing population and similar make-up compared to the wider UK. You also have Industrials, which is the most common industry around. Besides, Bristol focuses on business much more than the rest of the country. The city devotes 36% of its budget to this area while other regions stand at 28% only.
A Tech Hub
Bristol offers a tremendous ground for companies who want to get somewhere. If you go onto a UK casino online, you will soon see that there is a high chance that someone from Bristol has something to do with the launch. The city is truly a hub for the Southwest, but at the end of the day, it is also a prime hotspot for any ambitious business owners who operate in SaaS area and the processing space. You have Xmos and you have Graphcore as well. Besides that, Blue Wireless and many reputable cleantech startups call Bristol its home too.
You have G-Volution and Open Bionics. Meanwhile, it is also a spot for high-growth companies that work in robotics and even aerospace. If you look at the number of tech unicorns that are coming out of Bristol, it is not hard to see how far things have come over the years. Bristol is able to offer affordable living rates to those in the area, and this alone helps to make it a much more desirable location next to London. On top of that, many business owners hold conferences and events there because of the easily accessible locations. All of these facts are pretty exciting, and they could explain why Bristol is becoming such a hot spot.
When you look at the number of equity fundraisings the Bristol companies have secured, you will soon realize that they peaked in 2014 and managed to achieve new success in 2019. They have made 69 deals over the two years. The value has increased quite a lot over time as well. It made an impressive £309 million spike in 2019, and the OVO’s £200m funding affected it partially. This came from the Mitsubishi corporation, and it would seem that the company has gone from strength to strength ever since. The Bristol companies have stated that this is the city’s largest equity investment to date.
Overall, it is not surprising to see that things have come so far in terms of tech advancement. And looking further down the line, it is pretty intriguing to see how the future developments will shape the city in the coming years.