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Norfolk and Suffolk are in an exciting position to be at the forefront of science, innovation and digital technologies in the UK. Our region is blessed with opportunity to leverage our unique sectoral strengths, our unrivalled place-based assets and our skilled talent pipeline from colleges and universities.
Our technology-based capabilities are highly significant with world-leading research and technology development relating to diverse areas such as marine science, offshore renewables, health, life sciences, agri-tech and telecommunications.
In addition to creating the UK’s largest regional ecosystem of 27 innovation centres and hubs, via Connected Innovation, we are bringing together a range of dynamic cluster development activities and programmes from fintech, agri-tech and marine to advanced manufacturing, clean energy and space.
Business support and networking organisations are well established, including Tech East, Agri-TechE, EEEGR (energy), Space East, NAAME (manufacturing and engineering) and Freeport East. For these sectors, there are emerging opportunities around the application of digital technologies from AI and extended reality to quantum and satellite applications.
In addition to business support on offer through the Growth Hub, there are also specialist programmes such as the new Barclays Eagle Labs collaboration with Norfolk and Suffolk County Councils, Innovation Labs and Akcela providing support to early-stage tech founders. An Innovation Grant Mentoring project is supporting funding applications and we have the dedicated inward investment service Norfolk and Suffolk Unlimited.
From pre-start and start-up to scale-up and global expansion, Norfolk and Suffolk is positioned to provide space, services and support to tech businesses that choose to do business here, whatever stage in their growth journey.
Norfolk and Suffolk have a rich heritage of innovation and technological breakthroughs, with the combined counties having made major contributions towards developments as diverse as antibiotics, the hovercraft, radar and ready-meals.
Drawing on these roots, and bolstered by a strong ecosystem, businesses and pioneers across the counties are today rapidly scaling technology-driven innovations across a range of key sectors including banking and insurance; agriculture, food and drink; advanced manufacturing; sustainability; and life sciences/healthcare.
Increasingly we are seeing global VC investment being drawn to our innovation hubs and according to KPMG’s latest Venture Pulse Report, using data supplied by PitchBook, more than £35.3M of VC investment was raised by fast growth businesses in Norfolk and Suffolk during the first six months of this year.
The hubs housing these tech breakthroughs are geographically dispersed across multiple sites: fintech clusters in Norwich and Ipswich, the digital and ICT centre at Martlesham, the A11 Technology Corridor, three universities, and major research areas at Norwich Research Park and the Centre For Environment Fisheries & Aquaculture Science in Lowestoft.
This physical decentralisation, across some 9,000 square kilometres means that it is important for the region to have a clear and consistent voice and identity in order to share ideas, attract investment and harness the strongest talent. This a key reason we are so pleased to be supporting this report on Norfolk and Suffolk tech. The report’s spotlight on Norfolk and Suffolk shines a clear light on the wide scope, huge contribution and endless opportunities for tech in the two wonderful counties.
Office Senior Partner –
East Anglia, KPMG in the UK
Connected Innovation is joining the dots on Norfolk and Suffolk’s innovation ecosystem and has created the largest regional network in England of 27 innovation hubs which are home to over 800 innovative companies involved in multiple tech sub sectors. Within our network, we also have key business innovation clusters such as our partner on this report Tech East, and our Finance and Investment Group focused on supporting the region.
We have been promoting the transformational way in which businesses can interact with specific technologies and the cross-sector benefits this brings. We have landed a number of important programmes in recent years to support Norfolk and Suffolk’s tech sector and we are excited to see UKTN shine a spotlight on our region.
From Artificial Intelligence to Agri-Tech and Food Tech to FinTech to Gaming to Space Tech, this region is at the forefront of exciting developments. Connected Innovation is joining up all of these capabilities to drive cross-sector innovation and support a diverse and inclusive ecosystem, working closely with the inward investment team Norfolk & Suffolk Unlimited to attract high-growth and exciting tech companies.
Programme Manager,
Connected Innovation
This is a diverse region in terms of sectors, people, and opportunities. From the UK’s best-known 5G and telecoms research hub at Adastral Park, Suffolk, advancing the leading edge of cyber, quantum, and AI, to one of the UK’s most exciting, emerging Fintech/Insurtech clusters in Norwich, the region’s tech verticals are varied. Major investments in clean energy and climate tech, in both industry and academia, mean the opportunities around green tech—bringing together major players including EDF, Vattenfall, and Freeport East—are some of the best in Europe.
We shine a light on the dynamic digital tech ecosystem in the East of England to make it easier for governments, investors, and tech companies to connect and collaborate with our members. We are a community of startups, scaleups, and late-stage tech businesses, academia, and the public sector. As a founding member of the UK Tech Cluster Group, we welcome every opportunity to collaborate across the UK and beyond to magnetise investment and champion growth.
That’s why we’re pleased to be involved in this report, which shows just what Norfolk & Suffolk’s tech ecosystem has to offer to the wider world.
Chair,
Tech East
This is a diverse region in terms of sectors, people, and opportunities. From the UK’s best-known 5G and telecoms research hub at Adastral Park, Suffolk, advancing the leading edge of cyber, quantum, and AI, to one of the UK’s most exciting, emerging Fintech/Insurtech clusters in Norwich, the region’s tech verticals are varied. Major investments in clean energy and climate tech, in both industry and academia, mean the opportunities around green tech—bringing together major players including EDF, Vattenfall, and Freeport East—are some of the best in Europe.
We shine a light on the dynamic digital tech ecosystem in the East of England to make it easier for governments, investors, and tech companies to connect and collaborate with our members. We are a community of startups, scaleups, and late-stage tech businesses, academia, and the public sector. As a founding member of the UK Tech Cluster Group, we welcome every opportunity to collaborate across the UK and beyond to magnetise investment and champion growth.
That’s why we’re pleased to be involved in this report, which shows just what Norfolk & Suffolk’s tech ecosystem has to offer to the wider world.
Key tech hubs & specialisms
In Norfolk and Suffolk, there are several cities and towns with active and growing tech scenes. Among them is Norwich, which has positioned itself as a leading tech hub in the region and is home to a young community of digital and creative companies.
The city benefits from strong links with the University of East Anglia and Norwich University of the Arts, which supports innovation through research and talent development.
Research commissioned by Tech East found that Norwich, the largest city in Norfolk, is the main driver of economic and fintech growth in the county. Between 2010 and 2021, Norwich recorded the highest growth in real output per hour of all UK cities at 2.3%.
Suffolk’s county town, Ipswich, also contains a growing digital sector supported by organisations including the University of Suffolk and Innovation Martlesham.
James Allen
Programme Manager, Connected Innovation
We have seen a strong growth in Norfolk and Suffolk’s tech sector in recent years which has been epitomised by the growth in innovative companies and innovation hubs and incubators across Norfolk and Suffolk encompassing a diverse range of technology capabilities.
While London still holds the title of the UK’s biggest fintech hub, it’s clear that there’s growth outside of the capital that shouldn’t be overlooked. Norfolk is currently home to 24 fintech firms which have collectively raised a total of £49 million in investment and are part of a wider East of England cluster estimated at over 80 fintech firms.
Experts predict that Norfolk’s fintech sector could be worth £100 million by 2027, with the number of fintech enterprises doubling within the next three years, potentially ushering in over 600 new job opportunities across the region.
Insurtech, a mix of insurance and technology, is rising in the region with Norfolk establishing itself as home to the highest proportion of InsurTech firms in England, outside London, and also has the most concentrated insurance workforce outside the capital.
The crown jewel for tech in the region, however, is arguably agritech – technology supporting the farming industry. The region’s historical strength in agriculture laid a perfect foundation for innovations in agricultural machinery, pest control and more.
Salvatore Di Maggio
Senior Manager of Growth Sector – East Anglia, KPMG in the UK
Norfolk and Suffolk boast a very complete ecosystem to support tech startups driven by a combination of innovation, collaboration, and strategic support from local corporates.
A strong business community, combined with three outstanding universities (University of East Anglia, Norwich University of the Arts, and University of Suffolk) play a significant role in fostering innovation through research and collaboration and provides a breeding ground for ideas.
Source: DBT
Source: Norfolk & Suffolk Unlimited
Source: Norfolk & Suffolk Unlimited
Source: DBT
Funding in Norfolk and Suffolk is diverse and does not rely on a single main avenue. Instead, it offers different opportunities for startups and growing businesses. This includes public sector support from local authorities such as Norfolk and Suffolk County Councils and Growth Hub Programs providing grants and advisory services to stimulate regional economic growth.
Regional investment funds like Anglia Capital Group offer equity investment to promising tech startups via their angel investor network. Further support to early-stage ventures, by providing capital and mentorship, is also on offer via various sector focused scale-up and investment readiness programmes.
Venture capital firms and crowdfunding platforms such as SyndicateRoom, Seedrs, and Crowdcube also contribute to the funding ecosystem, facilitating access to larger investments and diverse funding sources.
Patrick Molyneux
Partner – Acceleris, KPMG in the UK
Private equity and corporate venture capital interest beyond angel and VC stage has historically been limited. However, this is gradually improving with exciting businesses such as Norwich-based digital health startup Evaro, announcing their $1.5m seed funding earlier this year and AI-powered GamePLAI securing $1.9m funding to help with the launch of new products in January.
Building on this success, it is key for the region to continue developing a clear and consistent voice and narrative that is heard beyond the counties’ borders to build the investor base.”
