London – a British metropolis, home of big city lights and career dreams. But did you know London has the highest number of start-up failures in the UK? (Somerville, 2018) Why build a career that hangs in the balance of this saturated start-up city when Cambridge is quickly emerging as the top place for technology companies in the UK and the fastest-growing urban economy in the country?
A city of knowledge
The close network between Cambridge’s software companies in the high-tech Silicon Fen contributes towards the city’s knowledge-intensive economy, placing a never-ending pool of resources in the hands of some of the most dynamic and promising organisations in the country. Businesses in Cambridge have the tools and resources they need to advance new software. However, they need sales knowledge to demonstrate and sell their advanced technology to end-users.
A city of promise
Cambridge has two universities, four non-university research institutes, and three NHS foundation trusts. This large number of esteemed education centres creates a constant flow of talented tech-savvy individuals into the rapidly-expanding Cambridge technology industry. But where do they all go? Out of almost 6,000 tech companies inside of the Silicon Fen, over 1500 of those are local (SME) tech companies that surround several large, high-tech firms like Darktrace.
A city of stability
From 1998 – 2017, the city’s Gross Value Added (GVA) has increased by 86%. And although the 2008 national recession provoked a slight decline in GVA, Cambridge was quick to recover as opposed to other UK cities, such as York. This speedy recovery was the result of the unmatched high-tech cluster that dominates the biotechnology, software and electronics industries.
There has been a 65% increase in the UK of active biotechnology businesses since 2016. In just over three years, London, Oxford, and Cambridge have strengthened their position as the UK’s ‘Golden Triangle’ of biotech. What’s more, Cambridge accounts for over a third of UK biotech businesses. That’s 34% of all biotech companies compared to 27% at the beginning of 2016, putting the city ahead of its counterpart, Oxford.
Cambridge is home to some of the most progressive and advanced companies in the world. In fact, in 2008 only 12% of businesses were using cloud-based apps, but it’s predicted that by 2020, 73% of software organisations in the area will have attempted to move almost all their apps to SaaS (Software as a Service) online services. 2019 is the year of software investment, and with the largest spending increase within IT contributing to cloud computing strategies, there’s no better time to start a career in software here.
Pursuing a career in hardware and electronics? Cambridge is the city for you. Electronics companies in the area are continually growing year-by-year, making it the perfect time to move your highly specialised tech career to the most innovative city in the UK. But don’t just take our word for it, here are two clear examples of successful electronics companies inside of Cambridge:
Fen Technology – These guys are an innovative Cambridge based electronics design company founded by five development engineers in 2002. Since then, they’ve grown every year, delivering world-class solutions to clients, ranging from technology start-ups to global consumer brands.
Jagex – This British video game developer and publisher is based at the Cambridge Science Park, and is best known for their massive multiplayer online role-playing game (MMORPG) called RuneScape. Started by brothers in 2001, this fast-expanding company now employees over three-hundred people across a variety of channels.
Ready to move?
The technology industry is Cambridge is growing rapidly, and the growth of local firms has created an influx of technology-related jobs in the region. It’s fast becoming the best place to start your tech career, where you’ll have the chance to grow alongside a company that shares your passion. There has never been a better time relocate to Cambridge, and to find where the right role for you in the technology industry.
Williams (2019). Enterprise software will be the fastest growing IT sector in 2019, says Gartner. [online] NS Tech. Available at: https://tech.newstatesman.com/business/enterprise-software-growth-gartner [Accessed 3 Jul. 2019].
McDonald, S. (2019). What is SaaS? 7 Reasons Why SaaS is Fueling Growth. [online] CRM Blog: Articles, Tips and Strategies by SuperOffice. Available at: https://www.superoffice.com/blog/saas/ [Accessed 3 Jul. 2019].
RocketSpace (2018). The Top 5 Cybersecurity Startups of 2018. [online] Rocketspace.com. Available at: https://www.rocketspace.com/tech-startups/top-5-cybersecurity-startups-of-2018 [Accessed 3 Jul. 2019].
Somerville, M. (2018). 12 of the most exciting tech companies in Cambridge. [online] Growth Business. Available at: https://www.growthbusiness.co.uk/12-of-the-most-exciting-tech-companies-in-cambridge-2555020/ [Accessed 3 Jul. 2019].