“Bristol and Bath are home to a growing number of high-profile technology businesses that are disrupting and adding value to their respective sub-sectors globally. With the huge amount of time, effort and investment over the last 10 years, it is likely that we will see an increased number of scaling technology businesses in the next five years.
“An interesting dynamic is the re-investment by serial entrepreneurs and founders into the ecosystem, whereby the ‘next generation’ of technology scaleups can benefit from the learning of those individuals. This allows them to iterate faster, avoid potential missteps and address their target markets more effectively to grow more rapidly.”
Matt Brook
Relationship Director, SME Business and Commercial Banking at Lloyds Bank Bristol and Bath
One of the most significant developments will see Bristol build and host the UK’s most powerful supercomputer, with the associated AI Research Resource at the University of Bristol set to be a national facility for AI innovation.
Karin Rudolph, founder of AI ethics consultancy Collective Intelligence, says: "With the new supercomputer coming to Bristol I think there's going to be a lot more investment and interest in the region’s deep tech capabilities. Companies developing AI will be able to do more testing and have more access to resources.
“What is now very much needed in the region is a better understanding of the effect of the upcoming AI regulations, what resources are available to support businesses navigate this new landscape and how we can develop a culture of safe and responsible innovation."
Tech leaders in the region say that all these shifts and developments in recent years have caused a mild identity crisis in the tech ecosystem; the growth has cultivated newfound confidence and a sense that Bristol and Bath are competing with tech hubs globally. But this momentum has not yet been channelled into a clear strategy that identifies and protects the region’s essential values while supporting a thriving, sustainable tech sector for the future.
TechSpark Chair Nick Sturge says that a “big opportunity” in Bristol and Bath will come from focusing on innovation-for-impact. He notes that with a higher proportion of B Corps in the cities than elsewhere in the UK, the region is well-positioned to lead in this area. He’s hopeful that the region can drive a shift in mentality in which it becomes “mainstream” for entrepreneurs and investors to tackle social problems without this being sidelined as a special impact project.
Tech West England Advocates, alongside other tech leaders in the region, are dedicated to scaling up the region’s startups and ensuring they can expand internationally. Upcoming initiatives include a trade mission to Hong Kong, scaleup programmes and levelling up tech funding into the region.
Invest Bristol and Bath is a key driver of inward investment, but stakeholders say more resource and strategic support is needed to ensure that Bristol and Bath do not fall behind, given that the region has not received funding through the UK government’s Innovation Accelerators and Investment Zones schemes.
While lab space is at capacity and affordable office space hard to come by, particularly in Bristol, the supply and quality of office space in Bath has increased in recent years, opening the possibility that Bristol-based companies will choose to move to Bath as they expand.
Alastair Mitton
Partner at Womble Bond Dickinson
Alastair Mitton
Partner at Womble Bond Dickinson
Supporting British businesses and the UK economy is central to what we do. Whether you are an entrepreneur starting out, or an established business, we can help.
Supporting with day-to-day business needs, offering tailored financial solutions and helping to protect businesses from the growing threat of financial fraud, are just some of the ways where we can support. We understand the unique position of tech businesses when it comes to access to finance.
Our knowledge of the sector allows us to provide banking to manage your money from the get-go. Our local Relationship Managers across Bristol, Bath and beyond are experienced in the sector and keen to support further UK tech growth. We have a range of different products and services designed to meet your banking needs so that you can focus on growing your business in this fast-paced industry.
As you begin to scale up, you need a bank that supports your growth needs. Whether it’s managing FX, deposit options or access to 3rd party support, we can connect you to the right people to maintain your trajectory.
|
Womble Bond Dickinson (WBD) is a full-service international law firm sitting amongst the Top 25 UK law firms and ranking 109th globally. In the UK, WBD has more than 120 partners and around 450 lawyers based in eight strategic locations, including the UK's biggest cities and legal hotspots.
In the US WBD boasts 24 offices. The firm’s reach also extends to Europe where it has strategic partnerships with law firms in Germany and France, and through the Lex Mundi network, WBD can offer clients access to counsel in more than 120 countries.
Advising businesses across 12 key sectors of expertise, the firm's clients include over 40 FTSE 350 companies, including many of the largest businesses in the country, private clients, charities as well as UK Local and Central Government authorities.
WBD has a strong focus on innovation and has consistently ranked in the Top 30 most innovative law firms in Europe by the Financial Times. The firm's dedicated and joined-up team of IT solicitors and data protection solicitors are perfectly situated to help companies adapt and thrive in a digital landscape.
|
To provide the best experiences, we and our partners use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us and our partners to process personal data such as browsing behavior or unique IDs on this site and show (non-) personalized ads. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Click below to consent to the above or make granular choices. Your choices will be applied to this site only. You can change your settings at any time, including withdrawing your consent, by using the toggles on the Cookie Policy, or by clicking on the manage consent button at the bottom of the screen.