Newcastle's Tech Boom: The Investment Funding and Growth Story Behind the Trend

Newcastle has seen a 25% increase in tech job vacancies over the past year, with the city's tech sector now employing over 12,000 people.

This surge in tech jobs matters now because it is helping to drive economic growth in the city, with the tech sector contributing to over 10% of Newcastle's GDP. The growth of the tech sector is also having a positive impact on the local community, with many tech companies setting up shop in the city's trendy neighbourhoods, such as the Bigg Market and the Gate. The city's universities, including Newcastle University and Northumbria University, are also playing a key role in driving the growth of the tech sector, with many students going on to start their own tech companies or work for existing ones.

In Newcastle, the investment funding and growth story behind the trend is being driven by a number of key players, including the Newcastle Gateshead Initiative, which is working to promote the city as a hub for tech and digital businesses. The initiative is based at the Baltic Place, a state-of-the-art office building on the Gateshead Quayside, and is working with a number of local organisations, including the North East England Chamber of Commerce and the Digital Union. Other key players in the city's tech scene include the Sunderland Software City, which is based at the Sunderland Enterprise Park, and the Newcastle-based tech company, Sage, which is one of the largest tech employers in the region.

Investment and Funding

According to data from the UK's Tech Nation, the North East of England, which includes Newcastle, has seen a significant increase in tech investment over the past year, with over £100 million being invested in the region's tech companies. This investment is coming from a range of sources, including venture capital firms, such as the North East Venture Fund, and government-backed initiatives, such as the Innovate UK programme. The average salary for a tech job in Newcastle is now over £43,000, which is higher than the national average, and the city is also seeing a significant increase in the number of tech startups, with over 500 new tech companies being set up in the city over the past year.

So what happens next for Newcastle's tech sector? With the city's tech sector continuing to grow and attract new investment, it is likely that we will see even more tech jobs and companies setting up in the city over the coming year. For those looking to get involved in the city's tech scene, there are a number of practical steps that can be taken, including attending events and meetups, such as the monthly Newcastle Tech Meetup, which is held at the Red House on Sandhill, and getting involved in local initiatives, such as the Codebar Newcastle programme, which is working to promote coding and digital skills in the city. With its vibrant tech scene and strong investment funding, Newcastle is an exciting place to be for anyone interested in tech and digital.