West Midlands tech sector valued at £15bn
The West Midlands tech sector is now valued at £15.3bn, an increase of £3.8bn, in a sign that the region is maintaining its momentum after being named the UK’s fastest-growing tech hub last year.
The data, released today to correspond with Birmingham Tech Week, shows the region is home to more than 2,300 startups that have collectively raised more than £850m in venture capital funding since 2020.
This influx of investor cash has boosted West Midlands tech hiring by 31% this year, while jobs in Birmingham have grown by 20%.
The region’s thriving tech sector now employs 144,000 people, according to job search engine Adzuna, with 56,000 of those located in Birmingham.
Software developers, Java developers, business analyst and project manager roles are the most wanted positions by technology companies.
“Fast-growing firms are cementing Birmingham’s status as a tech powerhouse – boosting jobs and spreading economic growth right across the West Midlands,” said Tech Minister Damian Collins.
Also announced today are plans for a Solihull-based telecommunications lab to test the security, resilience and performance of mobile networks.
Andy Street, Mayor of the West Midlands said: “This fantastic announcement that Solihull will be the home of the new UK Telecoms Lab yet again underlines the strength of this important sector for us here in the West Midlands.”
“The Lab will bring a wide range of stakeholders together to drive innovation and create high-quality new jobs for local people.”
Tech companies such as Energym, Black Space Technology, Onto, WAU, Nourish3d and CyberQ Group reside in the area, as well as fitness company Gymshark.
The West Midlands is currently looking to appoint a tech commissioner to help advocate the region’s tech space and bring in more investment for its tech startups.