Manchester is Britain’s northern powerhouse and one of the key birthplaces of the modern world. The city is noted as the home of the Industrial Revolution, was the hometown of Alan Turing, and is accredited with building the world’s first programmable computer, the ‘Baby’, created at Manchester University in 1948. Today the city houses the BBC and ITV at MediaCity UK in Salford and, in recent years, has seen an exponential growth in tech start-ups, many via the city’s home for technology business, SpaceportX (formerly Manchester TechHub).
In spring last year, Manchester was ranked the top location for doing business in Europe, according to a report by KPMG, with the city ranked ahead of major capitals such as Berlin, Paris, London and Rome. This was mainly due to the city’s unique mix: cost-effective business opportunities, a pool of skilled high-tech workers and the fact that, in 2017, it’s one of the world’s best cities in which to live and work. Manchester’s thriving tech community is competing with the best in Europe and across the world, there is little surprise that the focus of government and industrial investment in the region is squarely on the latest in disruptive technologies such as smart energy, artificial intelligence (AI), robotics, 5G mobile networks and the Internet of Things (IoT).
The city’s burgeoning tech start-up scene is a key reason for the continuing growth in public and private sector investment opportunities that are fuelling Manchester’s future. Campus Capital – a new and innovative venture capital firm - has signed a partnership with the University of Manchester to identify companies that could become the technology stars of the future. It will invest sums from £50,000 to £200,000 in promising early-stage businesses both on and off campus in the Manchester city region. The University has a long tradition in supporting innovation, and this new venture is set to boost the tech start-up community even more.
Additionally, with Prime Minister Theresa May recently announcing the Industrial Strategy Fund and a commitment of £170 million capital funding to aid “the creation of prestigious new Institutes of Technology”, Manchester is an increasingly attractive place for investment. At the time Jon Holt, office senior partner for KPMG in Manchester said: “Manchester has attracted significant levels of international investment for a number of years and it’s fantastic to see the strength of the city recognised on a global scale. Investors increasingly view Manchester as a natural place to do businesses, and an attractive alternative to London or other European capitals.”
As a result of this, Manchester’s economy continues to drive forward. From skyscraper apartments to offices, arts venues and parks, these developments are currently in the pipeline which are set to dramatically change the city. Developments are also in place for the cities infrastructure, with the recent opening of the Second City Crossing on the Metrolink, bringing huge improvements in extensions to tram services across Manchester including in MediaCityUK, East Didsbury, Rochdale, Ashton and Manchester Airport. Transport for Greater Manchester bosses says its completion is the ‘final piece’ in the £1.5bn Metrolink expansion programme.
Building Manchester’s digital infrastructure is now the most pressing and vital task for investors, founders and entrepreneurs, events such as this years IP EXPO Manchester, are helping organisations with this. Focusing on technologies such as AI, IoT and big data analytics can and will transform businesses.
It is not hard to see that Manchester’s thriving tech community continues to drive growth throughout the city. From the continuing boom in new media start-ups, world-leading videogame designers and app developers through to the latest research and development in AI, cyber security and robotics and a renewed focus on STEM in education, the latest round of investments into Manchester’s future firmly establish both the city and the UK as a 21st-century digital powerhouse.
By Bradley Maule-ffinch, EMEA Portfolio Director, IP EXPO Event Series
www.ipexpomanchester.com