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12 Clusters of Tech South West Contents 4 Regional 3 Summary 6 Introduction Established Leaders 8 Scaleup 10 12 Ones to Stories Cluster Watch Hotspot 1: Data/AI 14 Cluster Hotspot 2: Creative 16 Cluster Hotspot 3: Telecoms 2 12 Clusters of Tech South West 12 Clusters of Tech September 2020 – August 2021 Introduction This is the story of technology in the UK. Over 12 months, London Tech Week and UK Tech Cluster Group will explore the unique ecosystems and tech trends in every region of the UK. From space tech in the South West to cybersecurity in Northern Ireland, 12 Clusters of Tech charts the companies, sectors and case studies that make up the entire UK tech landscape. Brought to you by Sponsored by 12 Clusters of Tech South West 3 Regional Summary The South West has established itself as one of the leading UK regions for technology business and startups, building on a proud tradition of scientific and industrial advancement. From the first photograph and the first In additon, the influence of the world’s number one chronophotographic camera, to the invention of university accelerator SETSquared - as ranked by UBI plasticine and being at the forefront of transport Global in 2015 - is a boon to the region’s start-up and infrastructure innovation since the 17th scene. The accelerator works out of Bath, Bristol and century, the region home to the Bristol, Swindon Exeter. and Gloucester triangle - Silicon Gorge - has been at the heart of innovation and creativity in the UK Indeed, the region is dotted with specialist business for a very long time. programmes, incubators and accelerators. Many are located in the larger cities as you’d expect, The tradition continues today, with strong roots with the Bristol Robotics Labratory, deep-tech in more modern pastures. Across the region, incubator Science Creates, FirstBourne and Falmouth Telecomms, Data and AI, and creative technology Launchpad supporting businesses both general and flourishes, grounded in that proud heritage of specific. creative exploration and practical implementation of technology. The wealth of support for new and old businesses is too vast to fully articulate, but according to the Some of the world’s largest technology brands have region’s Investment Activator Program, more than bases in the region, with the likes of Dyson, JustEat, £364 million was raised in the South West in the midst Hewlett Packard, BT, Future Publishing and IMDB of pandemic-hit 2020. alongside public bodies like the MET office and GCHQ, all adding to the tapestry of innovation in the region. From the closely linked cities of Bristol, Bath, Swindon and Gloucester in the north - to Dorset, Exeter, Bournemouth, Plymouth and Cornwall in the south: the region covers a vast area, linked by a uniquely South West spirit of collaboration. Not- for-profit organisations like TechSPARK and Tech South West work alongside the region's Universities, local and nation government organisation to create a robust and connected tech region. This makes the South West particularly well- prepared for a post-pandemic tech future. As a result, opportunities fare created for a wide talent pool that supports not just the larger cities in the region, but enables businesses across the South West to thrive regardless of their location. The region’s well-performing universities are key components in this machine. 4 12 Clusters of Tech South West 12 Clusters of Tech South West 5 Established Leaders The South West boasts some of the UK’s leading tech companies, including globally recognised brands with deep roots within the region. Those homegrown leaders can point directly to the South West’s heritage as an industrial and creative hotspot. With the collaborative ecosystem and the north of the region’s excellent infrastructure by rail, road and air, it’s no surprise that the region is attractive to so many organisations. This is why those built here, stay. With the relatively low cost of living across the South West and the excellent quality of life, supported by a production line of talented graduates from the region’s many talented universities, it’s proven to be an ideal place for companies to thrive. Dyson www.dyson.co.uk Employing more than 3,000 people in the region and with one of most recognisable names in the Location: Malmesbury world, Dyson is a feather in the cap of the South Established: 1991 West. They’ve recently announced more jobs will be coming with the expansion of their UK Innovation Campus in Wiltshire. “We are growing our research team at our UK Innovation Campus in Wiltshire to achieve radical leaps in the performance of our machines – underpinned by technologies such as solid-state batteries and robotics.” James Dyson, Founder & CEO 6 12 Clusters of Tech South West IMDb “There’s a thriving tech community here and there are good media roots, www.imdb.com including the BBC who have a big Location: Bristol presence and ITV have always been here since Established: 1990 they got going. Aardman Animations too.” Col Needham, Founder IMDb connects entertainment fans worldwide with movie, TV and celebrity content, reaching an audience of more than 200 million unique monthly visitors. Future Publishing www.futureplc.com Location: Bath Established: 1985 Future is a global specialist multi-media platform with a 200-strong brand portfolio. Based in Bath, and employing more than 500 creatives and technologists in the region, Future engages with over 400 million people globally with content reaching 1 in 3 adults in the UK and US. “There is a fine balance between honoring editorial independence whilst driving a new eCommerce strategy. At Future, it is this balance that enables us to continue operating as a highly-successful, and ever-growing media company.” Zillah Byng-Thorne, CEO 12 Clusters of Tech South West 7 Scaleup Stories The South West is garnering a reputation for building fast growing companies that tap into the needs of an increasingly tech driven world. Companies with specialities in Creative technology, AI, Data and Green Energy have all made headlines for the region in the past few years, with two confirmed unicorns built in the South West. These companies serve global markets, and a select few are genuine market leaders, proving the strength of the South West’s scaleup scene, the innovation at its core and the ability to scale rapidly in the region. Graphcore www.graphcore.ai Location: Bristol Established: 2016 Graphcore’s Intelligence Processing Unit for AI is an innovative world leading product, with the company rapidly becoming Bristol’s first Unicorn with £278m raised since 2020. It’s showcasing what can be done from the South West with its AI, Deep Tech focus. “Deep Tech represents the coming together of so many great British attributes – our reputation for innovation in science and engineering, the excellence of our academic institutions and, most recently, our status as a leading player in the development of artificial intelligence.” Nigel Toon, Founder & CEO 8 12 Clusters of Tech South West Crowdcube www.crowdcube.com Based out of Exeter, Crowdcube is a leading equity crowdfunding platform which connects start-up Location: Exeter entrepreneurs and growing businesses with potential Established: 2009 investors. Dedicated to helping UK-based entrepreneurs raise finance, the Crowdcube founders are also fervent champions of South West tech. “We’ve proven that you can attract top people from renowned businesses like eBay and Google, nurture exceptional local talent and disrupt national and international markets from the South West.” Luke Lang, Co-founder Immersive Labs www.immersivelabs.com Location: Bristol Established: 2016 Another rapidly growing South West success story, Cybersecurity specialist Immersive Labs has raised £123m in venture funding, including $75m in 2021 to expand their cyber security training program. “This investment will allow us to add new analytical capabilities and content to provide a more detailed picture of skills across the growing breadth and depth of cyber exposure facing organizations, helping them measure and manage risk better.” James Hadley, Founder & CEO 12 Clusters of Tech South West 9 Ones to Watch The South West is proving its mettle as a great place to start a tech business in the UK. Alongside inspirational successes from regional scaleups, the support from the university and industry-led incubators and accelerators – such as Bristol and Bath Science Park, and Natwest’s Entrepreneur Accelerator – have created a culture where founders are able to access rich knowledge. Added to investment support from initiatives such as the cross-sector Investment Activator Programme and Bristol Private Equity Club, it is a prime time to be a South West startup. “Cybersecurity has certainly come into focus with the Foregenix pandemic and as a result, I think it is fair to say that we should expect to www.foregenix.com see a significant uplift in demand for Location: Marlborough cybersecurity solutions and services.” Established: 2004 Benjamin Hosack, CCO & Co-founder Cybersecurity and compliance specialist, Foregenix, has built a strong reputation on its expertise. Working with private, public and charity sector organisations around the world from their base in Wiltshire, and it is primed to take on more as the post-pandemic market settles. 10 12 Clusters of Tech South West UltraLeap www.ultraleap.com Location: Bristol Established: 2013 Ultraleap’s world leading, hand tracking and haptic technologies has allowed sustained growth since its founding. After the 2019, £23m Leap Motion, the Bristol based business continued to grow even in the midst of the pandemic, leaving it in prime position for an increasingly VR/AR hungry world. “Bristol and the South West’s long heritage of innovation and technology has been invaluable for us as a growing business. Ultraleap was born out of research at the University of Bristol and our headquarters have remained here due to Bristol’s fantastic position as a fast growing and vibrant tech hub.