An £80 million investment in Hull’s smart city pioneers Connexin has propelled the wider region’s booming tech sector.
It contributed to a 79 per cent increase in investment into Yorkshire in the calendar year, making the city the stand-out beneficiary.
A total of £159 million was attracted by companies in the white rose county, up from £89 million in 2019.
The deal secured by the Hessle team with Whitehelm Capital back in September will help accelerate the roll out of digital infrastructure to enable the Internet of Things to thrive.
The Annual Tech Nation Report highlighted the investment as a “key example of how high-growth businesses in emerging technology can drive investment into regional economies”.
Hull is also home to an identified rising star in Lucy Blackley, the founder of Bombyx PLM, an ethical manufacturing support platform based at C4Di.
It comes as the UK ranked third globally for investment attraction, behind the US and China, closing the gap with the Far East while accelerating on from European competition.
Prime Minister Boris Johnson said: “The UK is maintaining its lead as one of the world’s premier centres for tech of all kinds.
"While the real credit lies, as ever, with the engineers and designers toiling away at laptops across the country, I’m immensely proud to lead a government that is so comprehensively committed to supporting the sector. We’re continuing to invest in your success, and I hope that the winning combination of UK tech and this government will lead us to yet another record-breaking year in 2021."
Net Zero is also high on the radar, with both the PM and tech investors, which should bode well for the wider Humber’s advances as the Energy Estuary seeks to lead the globe, with the government’s Green Infrastructure Bank heading the Leeds.
Digital Secretary Oliver Dowden said: "With record levels of investment secured and UK listings gaining momentum, this report shows Britain's tech sector continues to go from strength to strength, solidifying our position as one of the world's top tech hubs.
"We want to bring about a golden age of UK tech through a raft of supportive measures and funding to help businesses thrive. This will help fuel a booming tech sector - creating jobs and improving services so that we can build back better from the pandemic."
The huge Connexin deal meant Hull ranked as the sixth city in the UK. However, only £1.4 million was brought in above that investment, with a previous record back in 2017 or £11.2 million when it was the 14th highest city.
