In a recent blog, we talked about how occupier costs have surged in Bristol recently. Though, perhaps unsurprisingly, the cost of occupying a building in the city is still far better value than in the capital.
As we’re located near to Bristol, we can attest that it’s a great city. It’s really no wonder that more and more businesses are looking to set up camp and make bustling Bristol their base.
In terms of sectors, a new report from Tech Nation shows that tech companies are driving the healthy demand in Bristol. In fact, the city has been crowned the most competitive and productive tech cluster in the UK.
As South West Business Reports, Bristol and Bath’s tech cluster has seriously upped its profile in Europe over the past year. In 2017, it ranked 12th in Atomico’s State of European Tech list of European cities by capital invested.
Graphcore, a tech firm that came out of Bristol University, raised a whopping $80m last year, while Ultrahaptics – also based in the city – raised $23m.
Insights lead at Tech Nation, Dr George Windsor, attributes Bristol’s high productivity to a number of factors.
“It may be that advanced manufacturing and hard-tech firms associated with sub-sectors like aerospace and telecommunications – which are more densely clustered in and around Bristol – are able to capitalise on these clustering effects to a greater extent than other tech companies, resulting in Bristol’s very high digital tech turnover per employee,” he said.
The Tech Nation report unveiled a ‘productivity power path’ along the M4 corridor, stretching from London to the mouth of the River Severn and reaching Southampton and Portsmouth. This benefits Bristol and Bath as it links the cities to established tech companies located in Reading and the Thames Valley.
MB Christie, Tech Nation’s chief operating officer, acknowledged that Bristol is the most exciting tech region in the UK, as well as the most productive sector when digital turnover by employee is taken into account.
Christie continued by noting how Bristol and Bath universities feed into the fantastic talent pool in the region, adding: “It’s exciting to see Bristol’s startups pushing ahead in semiconductor technology and in quantum computing.”
Co-founder and CEO of Graphcore, Nigel Toon, said his company has attracted investment from some of the largest investors in the world while having its base in Bristol. “[We] are proud of being at the centre of one of the most exciting and dynamic innovation hubs in the UK right now,” he said.
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