South Yorkshire’s tech ecosystem has seen a significant increase in investment in startups since 2019, according to a report by Beauhurst. The report, which forms part of Team SY’s South Yorkshire Tech 100, shows that the region’s tech startups secured equity funding of over £52.6m in the first ten months of 2022, compared to £37m for the whole of 2021, and £23m in 2019. The report also highlights that there are now 3000 tech startups based in the region, and over 400 tech companies have been formed in South Yorkshire in 2022, 14% more than in all of 2021.
The report by Beauhurst shows that South Yorkshire’s tech startups have secured equity funding of over £52.6m in the first ten months of 2022. This is double the amount of investment seen in 2019, with £23m, and surpasses the £37m raised in the whole of 2021.
South Yorkshire’s Deputy CEO at Capital Enterprise and Team SY lead, Darren Balcombe, highlights the need for investment to help scale startups and create new jobs in the region. The report shows that South Yorkshire’s tech ecosystem is home to several market-leading tech companies and thousands of startups that require investment to sustain innovation and growth.
South Yorkshire’s Mayor, Oliver Coppard, stated that the region’s tech startups will drive the regional economy forward and attract high-quality tech companies and high-value jobs. The report highlights that there are now 3000 tech startups based in the region, and over 400 tech companies have been formed in South Yorkshire in 2022.
The companies listed on the South Yorkshire Tech 100 employ almost 4k people and have raised more than £720m in funding. According to the report, the emerging startup scene in South Yorkshire has the potential to become a strong, self-sustaining engine of innovation and growth. The region’s tech ecosystem is increasingly vital for the whole of South Yorkshire as every barrier is becoming a digital or technology barrier.
