The research by software development experts KLOC analysed data from Crunchbase for tech businesses created outside the capital since January 2020.
The study measured the number of start-ups per area, the total funding they have received, the average software engineer salary and how the area’s top university ranks for its computer science courses, with a score out of 10 for each of the four factors.
Cambridge came in second for Tech Start-Up hotbeds outside London, scoring a total of 25.72 points. The city grabbed three points for the number of start-ups in the area and received 3.61 points for being the second highest funded area – the three Cambridge companies in the analysis received £25,774,119 in total funding. Its average annual salary of £43,325 for software engineers in the area scored it 9.6 – the second highest. The University of Cambridge came in second place for Computer Science rankings with a score of 9.44.
A spokesperson from KLOC commented: “The study highlights that there are plenty of vibrant tech start-up scenes outside London. This is very encouraging for entrepreneurs as it demonstrates that there are plenty of options beyond the capital which can offer lower operational costs and still provide a talented workforce.”
The study was conducted by software development specialist KLOC , which designs and build bespoke business systems, mobile apps and high-end websites to help customers improve their competitive advantage, increase profitability and achieve greater agility.
AREA | NO. OF START UPS IN AREA | AVERAGE SALARY | UNIVERSITY RANKING | TOTAL SCORE |
Manchester | 10 | £38,066.00 | 5th | 27.38 |
Cambridge | 3 | £43,325.00 | 2nd | 25.72 |
Edinburgh | 10 | £38,962.00 | 22nd | 24.85 |
Guildford | 2 | £40,116.00 | 40th | 24.27 |
Oxford | 4 | £41,762.00 | 1st | 23.36 |
Bristol | 5 | £39,709.00 | 10th | 21.17 |
Glasgow | 4 | £38,290.00 | 6th | 20.64 |
Altrincham | 2 | £38,066.00 | 5th | 19.38 |
Sheffield | 2 | £34,501.00 | 17th | 17.02 |
Belfast | 3 | £44,851.00 | 34th | 16.89 |