Mar 9th 2020

The northern powerhouse: Why Manchester’s startup scene is booming

When people think of the startup scene they think of London. For the last decade, it has been the hub of entrepreneurship in the UK. But it is no longer alone. 

With the birth of almost 900 startups per year and a digital turnover of £2.6bn, Manchester is the new kid on the block, giving the startup scene in London a run for its money.

Why Manchester?

Investing the big bucks. 

Over the last couple of years, tech startups in Manchester have raised over £200 million in funding. With the spotlight now shining brightly on the startup scene, the city is drawing in venture capitalists like a moth to a flame. Praetura Ventures has so far invested over £100 million in startups. That’s right, move over London. 

Cultural and technological innovation

From Alan Turing to Oasis, there’s no denying that Manchester has been leading the way in innovation for over two centuries. Even today its heritage is unbeatable and its ingenuity unstoppable – for this reason, top talent and business leaders continuously flock to the city. 

A hotbed for top talent. 

Manchester is the home to leading universities in the UK. Talented graduates are often eager to remain in the city to bring their own startup to life. This provides a deep pool of forward-thinking individuals, eager to grow and develop, for business leaders to choose from to help drive innovation in their company. 

Been there, done that. 

Success breeds success. As the startup scene explodes into life, creating a sense of buzz and opportunity, it provides an established haven for other startups to expand into. This way ambitious businesses won’t have to look hard for exciting new collaborators. Just take a look at our Top 20 Manchester Super Startups and see for yourself.

Manchester has the UK’s second-largest economy outside of London, tie that in with a booming startup scene and it’s a no brainer that this is the place to be for businesses. The big smoke may be where the rise in the tech industry all began, but it’s certainly not where it ends. 

If you are looking to grow your business why not check out our tips on attracting top fintech candidates.