The University of Warwick has announced a new partnership with Tech West Mids (Tech WM), a not-for-profit organisation that aims to help tech businesses and entrepreneurs in the region go global.
As the founding academic patron of Tech WM (formerly Birmingham Tech) The University of Warwick hosted the launch of a new ‘West Midlands Tech Review Report’ on campus this week, showing that the West Midlands tech industry is now worth over £15 billion.
The report aims to help academia, business and industry work together better to further drive the West Midlands’ emerging market in cutting edge technology.
Findings of the report include a survey of decision makers at leading tech companies, 85% of whom feel that the West Midlands is currently a good place to start and grow a technology business, with 79% believing that the region’s tech scene will grow rapidly in the next five years.
Growth strategy, cross network collaboration, connectivity (both online, in the form of 5G coverage, and logistically in the form of transport connections), and a large and diverse talent pool are all cited as key strengths for the region.
The University has also joined the Tech WM Digital Advisory Group, with a role to provide advice on opportunities for economic growth and collaboration between academia and business.
Professor Stuart Croft, Vice-Chancellor and President of the University of Warwick said: “We were delighted to host the West Midlands Tech Review here at Warwick, which welcomed some of the region’s leading innovators, businesses and authorities. The event celebrated our thriving tech sector and established the next steps needed to help the West Midlands become a global destination for tech jobs, ventures and investment.
“As founding academic patron of Tech West Mids, Warwick is uniquely placed to support growth and collaboration across the region’s tech sector.
“We look forward to applying our capabilities in translating skills into entrepreneurship to strengthen tech partnerships in the region. The findings of the new West Midlands Tech Review Report will galvanise the next steps to drive collaboration and growth throughout our West Midlands’ tech ecosystem.”
David Plumb, Chief Innovation Officer at the University of Warwick said: “With 144,000 people working in West Midlands tech roles, and a 31% surge in hiring into the West Midlands tech industry in 2022, now is the perfect time to build on this momentum.
“Launched in 2020, our Warwick Innovation District (WID) has been connecting academics, students, funders, and businesses to help commercialise research and launch ventures in the region, supporting Warwick businesses in raising over £100m in start-up and SME funding, and starting or supporting over 700 businesses.
“We are combining research, teaching excellence and skills with digital and technology entrepreneurship to create lasting impact across sectors such as manufacturing, energy, healthcare and gaming.
“These latest initiatives, including our role as founding academic patron of Tech West Mids, will give us a great platform to build on these successes and continue to champion the West Midlands in tech”.
To read the full report on the West Midlands tech sector, click here.
This article was first published by University of Warwick.