A taskforce led by investor KPMG Acceleris has been launched to encourage growth in the startup ecosystem of the North West region of England.
The Wired for Growth taskforce, made up of investors, trade bodies, banks, universities, founders and business leaders, will focus on supporting startups in the region in overcoming barriers and identifying opportunities.
The North West has become one of the UK’s most prominent regions for tech startup growth. Startups in places like Manchester and Liverpool have attracted significant funding, with recent investments including Phagenesis’ £33.1m round and Netacea’s £4.5m round.
Research from Sequoia named Manchester as the seventh largest concentration of tech talent in Europe, while last year there were a record number of investment deals – 85 – for startups in Liverpool.
The taskforce has, however, identified a problem of longevity in the region, citing research from Manchester Metropolitan University that found that only 38% of companies set up in the North West in 2015 were still active five years later.
Wired for Growth said this issue would be its focus.
“Our region has long had all of the ingredients needed to help our start-ups truly stand out on the world stage and thrive,” said Patrick Molyneux, head of products and partnerships at KPMG Acceleris.
“Our aims and recommendations have been informed by speaking to founders who have experienced challenges, and want to improve the experience for future innovative companies forming in the North West.”