A recent surge in entrants for this year’s Greater Manchester Tech Climbers showcase has revealed the global scale of ambition among the region’s startups.
Tech Climbers revealed its latest shortlist of the best performing product-led tech businesses in Greater Manchester this week in a year that has seen the number of new entrants skyrocket.
Almost three-quarters of entrants on the latest list were making their debut, a 10% increase from the year before.
According to Tech Climbers, more than a third (37.5%) of Greater Manchester’s current crop of top firms are looking to internationalise as part of their growth plans, suggesting a global level of ambition in the region.
This comes as data shows that the area has been delivering on ambitions set by the Greater Manchester Strategy 2025-35 to become a high-performing innovation region, adopting new tech, creating jobs and powering inclusive growth.
“This is our third year in Manchester and perhaps the most transformative yet, as we can really see our entrant data marrying up with the ambitions of the region,” said Anna Heyes, founder of Tech Climbers.
“With almost all of this year’s businesses using AI in some capacity, and over a third looking to internationalise, Manchester is out in front in terms of competing on a global stage.”
Data from Tech Climbers has found that Greater Manchester’s tech startups are set to create almost 200 jobs over the next 12 months, with around a quarter of them expecting to hit revenue of over £1m.
Health tech was particularly represented in this year’s list, which follows the announcement of the Greater Manchester Good Food Fund.
The vast majority of businesses on the list heavily rely on AI technology. Data from Turing Innovation Catalyst found that Greater Manchester AI firms are now valued over five times higher than they were in 2020, at $4.2bn.
“We are one of the ecosystem partners for this year’s Manchester Tech Climbers and it’s really encouraging to see almost all the businesses on the list using AI to propel themselves forward,” said Liz Scott MBE, executive director at the Turing Innovation Catalyst.
“One thing that is clear to me is that the intersection of higher education, the private sector, and local and national government has become the foundation of the city region’s success.
“From facilitating innovative research and commercialisation to attracting investment and creating skilled job opportunities, Greater Manchester is a city region that leads by example.”
Read more: Manchester’s leading tech innovators revealed
