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2024 Liverpool Tech Climbers data reveals funding and jobs boost for tech sector

New data, released by Tech Climbers in the Liverpool City Region, has revealed how the region’s tech sector is booming.

Tech Climbers is an annual regional list showcasing the rising stars of the region’s tech sector.

Now in its fourth year, 19 businesses made the Liverpool City Region Tech Climbers list this year, with 11 making the ones to watch list.

The 2024 list of Tech Climbers was announced on Tuesday 20th February to a sold-out room of the region’s best companies and leading tech talent at PINS Social Club in Liverpool city centre.

The research found all entrants are looking to hire new talent, projecting over 300 new jobs in the area’s tech sector, a 14% increase on last year’s data.

A total of 79% of entrants to this year’s list have already raised funding, totalling £52.5m – a 110.6% increase on last year’s data.

Analysis shows 80% of tech companies in the region are actively seeking funding, a 7% increase on last year’s data. Of this, 89% of the sector is looking for combined Seed and Series A Funding, whilst 58% are looking for Seed funding only.

The city’s startups are also thriving, with Tech Climbers data showing a 125% increase in revenue compared to last year, and 93% of startups on the hunt for funding.

The impressive maturity of Liverpool City Region’s tech sector comes as research from Dealroom* said the city is becoming increasingly attractive to venture capital investors, with a 657% increase in VC investment since 2019 – comparatively, Manchester saw a -44% drop and London only a 4% increase over the same time.

Anna Heyes, CEO at Active Profile and founder of Tech Climbers said:

“What a year it’s been for Liverpool City Region’s tech sector! We’ve seen fantastic new initiatives like Baltic Ventures welcome their first cohort, we came together at the inaugural Liverpool Slush’d and now, we’ve celebrated the cream of the crop at this year’s Tech Climbers list reveal.”

“Our data shows an impressive level of maturity for Liverpool City Region’s tech businesses, with a continued drive to raise investment, create new jobs and establish sophisticated products. We’re delighted to play a part in it, and we look forward to taking stock next year and seeing just how far we’ve come once again.”

Helen Cross, Digital and Creative Sector Lead at Growth Platform said:

“Liverpool City Region’s tech sector is primed for growth. Over the past years we’ve seen support initiatives and grant schemes show up to support tech businesses, creating a community network that founders have embraced with open arms. The battle for funding will always remain, but if we continue to shine the city region and its brilliant innovations in the spotlight, we can start to help investors and policy makers shift their attention to the North. ”

Ben Sweeney, founder of VidiVet, which made the main list, added:

“Within the tech space, you see a lot of ‘vanity’ awards, in which you basically pay for a mention. Tech Climbers isn’t like that, it’s free to enter and is looking to naturally profile the businesses that are looking for investment and growth opportunities.”

“We entered Tech Climbers and Tech Nation around the same time, and making both lists ultimately put VidiVet, and me as a founder, on the map in Liverpool, drawing the interest of River Capital who invested in us in September. There are many amazing tech businesses in the Liverpool City Region, so going out and gaining that exposure has been so important.”

The data also found more companies are working on their diversity and inclusion policies (89%, +14% from 2023). Innovation and creating product-led solutions is also top of the agenda, with 79% of entrants owning/using IP rights, and over half having copyright.

The list is judged by the project partners, and looks at investment, impact, and innovation. Entrants submit a snapshot of their data which is also used to chart growth and insight into the businesses and their challenges. Tech Climbers also runs in Greater Manchester and Yorkshire and is set to launch in another region later this year.

The full Tech Climbers 2024 report and list is available here.