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71 per cent of Yorkshire tech sector is seeking investment, Tech Climbers reports

Leeds

71 per cent 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 surveyed are projecting an average of 94 per cent 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 tech sector at an event in the Sky Lounge, Double Tree Hilton Leeds, last week.

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 per cent 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 per cent 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 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 access and interpret satellite ground movement data for clients including Network Rail, multiple water utility companies and National Highways, added: “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.”

Tech Climbers Yorkshire partners this year include 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. 

Tech Climbers is an annual list showcasing the top performing IP-rich, product-led technology businesses in growth regions across the UK.  First launched in 2019, Tech Climbers created its inaugural list in Liverpool City Region.

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