It’s suggested the North East’s booming tech scene will address regional disparities by ‘rebalancing’ the UK’s economic growth towards the former industrial hubs of the North and away from the South-East.
The article featured an interview with Gilbert Corrales, who made the decision to relocate his highly successful music-streaming start-up, Leaf, from his home country of Costa Rica to England in 2014. Corrales decided to relocate to the North East over London’s more established tech scene because he believed Newcastle was ‘poised to emulate a technology-led revolution that has transformed his home country’. Corrales’ comparison is unsurprising – the North East already has an impressive cluster of tech companies driving the so called ‘digital revolution’. To boot, it remains one of the most affordable regions in Britain in terms of cost of living, and is home to five universities delivering a pool of highly skilled programmers and developers to North East technology businesses each year.
The Centre for Economics and Business Research (CEBR) has forecast further success for the North East tech sector, the article advised. The CEBR ranked every region in Britain according to three key factors for success: a highly skilled workforce, cheap housing and cultural enrichment. These factors were identified after studying the growth of the digital economy in America. The CEBR ranked Newcastle in first place followed by a number of other Northern cities. They predicted that the Northern Powerhouse will replace London in being the cornerstone of the digital economy.
Newcastle has more to offer than just a booming tech sector – our friends at Ignite Accelerator were featured in The Times piece, highlighting the relaxed lifestyle Newcastle offers its residents. Tristan Watson, chief executive of Ignite Accelerator, advised “I live on the coast, I can go surfing before work, hop on the Metro and I’m at my desk by 9am.”
With Newcastle projected to become Britain’s fastest growing digital economy, and life in the city continuing to offer its residents opportunity and affordability, why would anybody in the tech sector look any further?