Yorkshire tech sector projects average 94% revenue growth in the next 12 months
71% of tech companies in Yorkshire are actively looking for investment for growth, according to new data.
This is one of the key findings from data collected from entries to the 2023 Yorkshire Tech Climbers list, which also found the companies asked are projecting an average of 94% revenue growth in the next 12 months.
Tech Climbers is an annual regional list showcasing the rising stars of the region’s tech sector.
A total of 19 companies were selected for this year’s Yorkshire Tech Climbers list, with another six up-and-coming businesses making the ‘ones to watch’ list.
A record 63 tech firms applied to this year’s Yorkshire Tech Climbers – a 50 per cent increase from last year.
The successful businesses joined more than 100 representatives from across Yorkshire’s burgeoning tech sector at an event in the Sky Lounge, Double Tree Hilton Leeds, on Tuesday evening (June 27th).
As well as hearing from some of the newly-named Tech Climbers, the audience heard new data from The Data City, highlighting the resilience and ambition of Yorkshire’s tech sector, despite the growing cost of living crisis.
Key findings included:
- 60% of entrants are looking for Seed or Series A funding;
- On average the entrants were looking for funding in excess of £900k
The data also revealed that 100% of 2023 entrants were looking to hire new talent within the next year, projecting the creation of 301 new jobs in the region’s tech sector.
Anna Heyes, founder of Tech Climbers and CEO at Active Profile said:
“Tech Climbers shines a light on tech in growth regions throughout the UK and this year Yorkshire has really upped its game and showed that together, the local ecosystems in the region’s cities are home to brilliant businesses with sizeable growth aspirations.
“Our data shows that despite the wider economic challenges facing the country there is no lack ambition from Yorkshire’s tech businesses to take investment, grow revenues and create jobs.”
Matthew Bray, CEO of Leeds-based SatSense, which helps clients access and interpret satellite ground movement data.
Founded in 2017 the company employs 15 people and has been growing by more than 50% annually since it started trading. Clients include Network Rail, multiple water utility companies and National Highways.
Bray said: “Yorkshire Tech Climbers is hugely important. It’s bringing together a lot of different industries, plenty of great ideas and creates knowledge sharing opportunities.
“We have a great suite of investors and advisers in the region. We have an excellent talent pool, and tech will play a huge role in the future of Yorkshire.”
Councillor Jonathan Pryor, Deputy Leader of Leeds City Council and Executive Member for Economy, Culture and Education said:
“We are proud to be a partner of Tech Climbers Yorkshire and support the Yorkshire tech community. By focusing on our local scaling tech businesses, we aim to encourage entrepreneurism, drive growth and foster innovation, aiding the creation of new jobs, which will all have a positive impact on the region.
“We believe that Yorkshire has the potential to become a major player in the global and emerging tech industry, and we are committed to helping it get there."
Councillor Martin Smith, Chair of the Economic Development and Skills Committee, said:
“It is fantastic to see five Sheffield businesses make the Tech Climbers lists for 2023. As a city we work hard to create an ecosystem that nurtures start-ups, and Sheffield is home to a thriving tech scene with outstanding talent. It’s great to see that recognised.
“Opportunities to grow are crucial to creating a city where start-ups can scale up and become more successful. In Sheffield, entrepreneurs can contact Business Sheffield to access help, advice and guidance to help them grow, as well as funding opportunities. Successful start-ups and scale ups can bring huge benefits to the local economy, which is why we are so committed to supporting entrepreneurs in Sheffield.”
Tech Climbers Yorkshire partners this year are, Hyperact, BDO, Mercia Asset Management, Page White Farrer, TD SYNNEX, Ward Hadaway, The Data City, Climb 23, Fintech NorthBusiness Sheffield, Leeds City Council, Leeds Digital, Zut, and Science and Technology Facilities Council. To find out more about Tech Climbers or become a partner, visit the website.