Tech leaders urge MPs to back South West

Every MP in the region to receive copy of new South West of England Tech Prospectus

Tech leaders from across the South West of England have gathered to develop an action plan for the sector.

Around 100 people, including entrepreneurs, founders, representatives from universities, science parks and business organisations, met at this year’s Tech Leaders Summit in Bristol, to review the recommendations in the new South West of England Tech Prospectus Look South West.

They developed and voted on a range of actions to drive opportunities around investment, talent, net zero tech, future economy and engaging with the new government. The region’s new Tech Advisory Board will now consider the actions, and develop an overall plan for the sector, to leverage its potential to support and drive the UK’s innovation ambitions.

The prospectus reveals the scale of the blue and green economy across England’s largest region, as well as focusing on the region’s Future Economy and Creative Economy strengths. Copies of the prospectus are being sent to all the region’s MPs.

Developed in partnership with Microsoft, Barclays Eagle Labs, Neighbourly and Future Space Bristol, the prospectus highlights investment opportunities presented by the region’s net zero sector. A fifth (21%) of the region’s tech companies operate in the net zero space, including agritech, marinetech, climate tech and environmental science. Combined, they generate just over half (52%) of the region’s tech sector’s turnover.

The new Government has set out its intentions to work with the private sector to double onshore wind, triple solar power, and quadruple offshore wind by 2030. Investment in carbon capture and storage, hydrogen and marine energy, is also being highlighted by the new Government.

“These are the areas in which the South West excels”, says Dan Pritchard, founder of Tech South West, “and they are the areas with the power to make a huge positive impact on society. 

The prospectus puts six recommendations to the Government to ensure the region fulfils its potential as a key contributor to the UK’s industrial strategy.

1. Commit to Government investment that places the South West tech sector on a level playing field with other regions by increasing British Business Bank funding by 20%.

1. Champion the South West’s leading role in the creative industries and creative tech through investment in inclusive, culture-rich education and emerging creative technologies. 

1. Recognise the South West, and Bristol in particular, as a leading UK hub for deep tech and provide a long-term strategy to allow for increased public and private sector investment.

1. Capitalise on the region’s natural geography and resources to invest in renewable energy, sustainable mining and battery technology supported by world leading blue/green innovation.

1. Support more young people – especially those from under-resourced backgrounds – into tech careers.

1. Provide long-term certainty for the regions with clear strategies that give confidence to public and private investors.

Dan Pritchard added: “From Altilium developing a circular and domestic EV battery supply chain, vertical farming specialists LettUs Grow designing the farms of the future, to Kelpi’s seaweed-derived alternatives to plastic packaging, . With more government support and an energised investor community, the possibilities are endless.”

Dominic Schreiber, of Altilium, said: “There is an emerging ecosystem from raw material to battery production. The government’s battery strategy and the critical minerals strategy reflect what is taking place in the South West.”

The prospectus highlights the limited funding provided by previous governments into the region. The first ‘Nations and Regions’ growth funding allocated to the region went live in 2023, years after the first Northern Powerhouse and Midlands Engine funds, and amounted to a fraction of the amounts pumped into those funds and their recently launched successor funds.

Despite these challenges, the prospectus reveals, a startup founded in the South West is 17% more likely to survive after 5 years than if it were based in London. 

“The South West tech scene has all the ingredients you need to get an excellent return on investment”, said Richard Potter, Director of Digital Strategy at Microsoft.

Professor Matt Freeman, Centre Director at Future Space Bristol, adds: “What the South West’s tech sector has achieved with comparatively little government investment is truly astounding. It’s important for so many reasons to have a prospectus like this, that clearly shows the strength and power of what the region is capable of.”

The prospectus forms part of Tech South West’s work in fostering connections and collaborative links across the South West tech ecosystem.

Zoe Colosimo, COO at Neighbourly, said: “The South West and its thriving tech community exemplifies how the UK's technology sector is driving social and environmental progress through innovation. 

“The support we've received from this infrastructure has been vital in driving progress towards our goal of £1 billion positive impact into communities by 2025.”