A new study – the LCR Tech Climbers report – reveals the growth projections of the Liverpool city region’s most dynamic tech businesses. Tony McDonough reports
Liverpool’s city region’s leading tech businesses are predicting a 65% rise in their revenues in 2020 and say they are likely to create more than 700 new jobs.
A new study – the LCR Tech Climbers report – has been published jointly by LCR Activate, an EU-funded programme to support Mersey tech and digital firms, and Praetura Ventures a local investor in tech venture.
It showcases the Liverpool city’s region’s fastest-growing and most innovative tech scale-ups. Developed as a result of research conducted with some of the region’s top tech businesses, the launch of the report follows on from the LCR Tech Climbers 2019 list which launched in September and highlights 35 of the best tech scale-ups in the region.
As well as profiling LCR’s 2019 Tech Climbers’, the report includes the thoughts and feelings of the individuals and organisations that make up the local tech ecosystem, and highlights the growth of the city region’s tech sector.
Findings from the report suggest that Liverpool city region’s tech scene is set for continued growth in 2020, impacting positively on the city region’s economy, employment opportunities, and commerciality. Key statistics include:
- LCR’s top tech scale-ups are predicting an average revenue increase of 65% on last year.
- Just 53 top tech businesses in LCR are projecting the creation of over 700 jobs between them in the next 12 months.
- 43% of businesses have overseas deals in the pipeline for their business, with 51% already trading in international markets successfully.
Jonathon Clark, business and technology manager at LCR Activate, said: “We’re incredibly excited to launch the first LCR Tech Climbers Report and highlight some of the region’s best and most creative tech businesses.
“These businesses are the driving force of growth in the local economy and are helping to prove Liverpool City Region as the go-to tech destination in the UK for future job-seekers, investors, and entrepreneurs.
“We hope that in creating this report and sharing the successes of the Tech Climbers, we are helping to showcase just what Liverpool city region is capable of with the right support and resources.”
Ben Hatton, managing director of Praetura Ventures, added: “Praetura Ventures have always sought to support businesses in Liverpool city region that are demonstrating outstanding innovation.
“The LCR Tech Climbers Growth Report 2019 showcases those businesses. The report highlights the fantastic opportunities that the region has to offer and we’re certain it will encourage further engagement with the investment community both regionally and nationally.”