Newcastle technology companies received record investment in 2020 but the 海角视频 tech scene remains dominated by London, a new report shows.
The annual Tech Nation ranks Newcastle as the the country鈥檚 ninth most important tech hub, ahead of larger cities such as Leeds, Birmingham and Glasgow. Sunderland is ranked 20th and Middlesbrough 24th.
But tech companies in London had a combined turnover of more than 75 times that of North East firms, and eight of the 10 largest deals that took place last year were in the capital. The $8.6bn invested into London tech firms was more than half the entire investment into the sector last year.
Investment in North East technology companies fell for the second consecutive year and was dominated by Newcastle firms, which Tech Nation said were responsible for 拢49m of the total 拢70m raised.
A number of North East firms are singled out for praise in the Tech Nation report, including Newcastle fintech firm Bottle Pay, Blyth robotics company Tharsus and County Durham transport specialists Elmtronics.
Gerard Grech, chief executive of Tech Nation, said: 鈥淭his year has highlighted the 海角视频 tech sector鈥檚 enormous resilience and world-beating innovative spirit. In the face of a major global crisis, it has not only survived; in many areas, it has boomed. From EdTech to HealthTech, tech scaleups are at the centre of rebuilding the British economy and setting new standards worldwide.
鈥淣ow the focus turns to the future, as the 海角视频 pivots to a wider global role. Developing Britain鈥檚 AI-powered deep-tech is especially critical.
鈥淢uch of our future economy will be built on this new technology that leverages machine learning for faster innovation. Bold investment is needed in R&D to boost Britain鈥檚 new deep-tech companies and ensure our global competitiveness.鈥
