Oxford listed in top European investment tech cities in Tech Nation report
Oxford has been listed as one of the top 20 European investment tech cities, just after Helsinki and Dublin, with £200 million raised in 2019. The report also mentions that the South East hosts seven digital tech unicorns, of which two are based in the Thames Valley region, Oxford Nanopore Technologies (Oxford) and Rightmove (Milton Keynes).
“Oxford’s ranking as one of the top European Investment Tech Cities, reflects it’s recognition as one of the UK’s largest technology clusters. The city’s digital tech industry now employs over 37,000 people and contributes approximately £1.8 billion in revenue to the UK’s economy (2019). Oxfordshire has a rich history of creating new start-ups and so it is no surprise that one of the seven South East, Digital Tech Unicorns, listed in the Tech Nation Report, is based in Oxfordshire as our technology industry continues to grow.”
Phil Southall, President, Oxfordshire Chamber of Commerce
The South East in more general terms has cemented its position as one of the UK’s leading tech hubs with £448 million invested in emerging tech, £281 million invested in Artificial Intelligence and 11 high-value tech scaleups, of which two are Oxford-based, ByBox and Osler Diagnostics.
The UK’s digital sector GVA grew nearly six times faster than the rest of the UK economy, contributing £149 billion to it and accounting for 7.7% of UK GVA. Digital tech now employs 2.9m people in the UK which has increased by 40% from 2017.
“The strong performance of Oxford as a technology hub is highlighted again in the 2020 Tech Nation Report, proving that the innovative city is one of the driving forces behind the region’s consistent and continued growth. We recognise the potential of the wider Thames Valley, with more than 8,000 technology-led companies based here and a proven location for both established global brands and pioneering start-ups and we will continue to work with our partners to unlock opportunities for the industry’s future economic growth in this region.”
Paul Britton, CEO, Thames Valley Chamber of Commerce
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