Cardiff shines in the latest Tech Nation report
Cardiff has been highlighted as one of the UK’s fastest-growing technology hubs in the latest Tech Nation report.
Released annually, it aims to shine a light on the progress made by the British technology industry, as well as regional clusters such as Cardiff, Bristol and Manchester.
Digital technology firms based in the Welsh capital generated £641 million in revenue last year, according to the research.
As well as this, the report claims that the sector currently employs 21,508 people, and 78 new technology companies were formed between 2016 and 2017.
Wales hasn’t created a technology unicorn like Snapchat or Uber just yet, but the report shows that companies such as Wealthify, DevOpsGuys and Amplyfi are well on their way.
They’ve raised millions in the past few years. Meanwhile, new tech start-ups such as Delio, WeBuild Bots, Bipsync and Backbase have emerged in Cardiff.
The support ecosystem for Welsh technology companies has also expanded over the past year, with the Development Bank of Wales ploughing more cash into the country’s brightest companies and innovators.
There’s now a Coworking Collective operating in South Wales to support the growth of the market as well, comprising of Hwyl Hub, Rabble Studio, The Sustainable Studio, Tramshed Tech and Welsh ICE. They’re home to 247 companies and 552 people.
Gareth Jones, founder of Welsh ICE, said the Welsh capital is going through a digital future. However, he believes that it’s important to ensure that the support remains for the next generation.
“The Tech Nation report has established itself as a well-regarded barometer of the landscape in the UK, so the news of continued growth in SE Wales is certainly well received,” he told Tech Dragons.
“Cardiff’s tech community has evolved massively in the last five years, but still has some way to go. Institutions like the Development Bank are upping their game, and legal firms are getting the kind of deal flow that captures their attention.
“We now need to add a bit more intensity to ensure the interest pays off and creates the right conditions for future generations.”
Gerard Grech, chief executive of Tech Nation, said: “Tech Nation 2018 is the first major milestone of Tech Nation, the organisation now working across the country to build networks that support ambitious entrepreneurs and shine a light on the achievements of our tech sector.
“The UK’s tech sector is growing almost three times faster than the rest of the economy. What started as Tech City is increasingly Tech Nation.”