Manchester has been crowned the best city outside of the capital to launch a tech start up.
The research, published by software developers KLOC in collaboration with sector analysts Crunchbase, uses a variety of factors to determine the best and worst regions across the UK.
These include the number of start-ups per area, the total funding raised per business, the average software engineer salary, and how the region’s top university ranks for computer science, with each factor scored out of 10.
According to the analysis, Manchester – which hosts the joint-highest number of start-up businesses outside of London – ranks first with the highest overall score of 27.38.
Cambridge follows in second place with an overall score of 25.72, while Edinburgh placed third with an overall score of 24.85.
Guildford, Oxford, Bristol, Glasgow, Altrincham, Sheffield, and Belfast also ranked among the top cities for tech start-ups.
Commenting on the findings, the authors said: “The study highlights that there are plenty of vibrant tech start-up scenes outside London.
“This is very encouraging for entrepreneurs as it demonstrates that there are plenty of options beyond the capital which can offer lower operational costs and still provide a talented workforce.”
For help and advice with related matters, please get in touch with our corporate finance team today.