Bristol’s tech scene has undergone a healthy year of growth despite the coronavirus pandemic. Startups and scale-ups in Bristol have raised a collective $1.07B in VC investment since 2014 as it seeks to compete with other growing regional tech hubs including Oxford and Edinburgh. This burgeoning industry is helped in part by strong links with the University of Bristol, which is in the top 10 universities in the UK for producing companies, with a total of 130 companies spun out of the university, including Ziylo, a biotech company which uses tech to treat diabetes more effectively, which was sold to Novo Nordisk in 2018 for £623M.
The city is also gaining a reputation for its impact-focused startups. Vertical farming startup LettUs Grow has been named as one to watch whilst green energy company Ovo Energy became a certified unicorn last year. Haptic technology company Ultraleap and cybersecurity startup Immersive Labs are predicted to join Ovo and semiconductor company Graphcore as Bristol’s next unicorns.
Overall, there are now 430 tech companies in Bristol which employ over 8,000 people. Along with startups, big tech firms such as Nokia, BT, Vodafone, Oracle and Amazon all have offices in the city. Oracle is the employer with the most job openings in the city, with 31 IT vacancies, followed by Sanderson Weatherall with 23 and BT at 15. The most advertised roles in Bristol are software developers, engineers and project managers, with software engineers commanding an average salary of £58,070.
Those living in Bristol are catching on to the demands from employers. According to data from the online higher education platform upGrad, there has been a 34% increase over the last year in people in Bristol acquiring python skills, whilst there has also been a 28% increase in people listing analytical skills on their CVs. Whilst hiring and retaining skilled staff is a key issue for many startups looking to grow, there is a clear energy for education and retraining in the city.
The figures on how Bristol’s tech industry is flourishing are published as the Government’s Digital Economy Council and Tech Nation host a digital roundtable on 24 November to discuss the challenges facing the tech sector as it works to create jobs and help the region recover from the impact of the coronavirus on jobs.
The virtual lunchtime discussion, hosted by Saul Klein, founding partner of LocalGlobe, is one in a series of roundtables taking part with tech executives, investors and entrepreneurs across the country. Local companies, investors, university representatives and other ecosystem participants will be brought together to learn, share and collaborate on the challenges posed on the pandemic.
“It’s no surprise that Bristol’s tech sector is continuing to grow and is attracting huge levels of investment. The work of startups and scaleups in cities like Bristol will be more important than ever as the whole of the UK looks to recover from the coronavirus pandemic. I look forward to hearing how the UK government can continue to help support Bristol’s tech burgeoning sector.” – Caroline Dinenage, Minister for Digital