Member Article

LCR’s top tech businesses will see significant growth in 2020 with a 65% predicted revenue increase, says new report

Liverpool City Region’s top tech businesses are predicting an impressive 65% revenue increase on last year, according to the 2019 LCR Tech Climbers report, launched by LCR Activate, in association with Praetura Ventures.

The LCR Tech Climbers report, which launched this week, aims to put LCR on the map as a viable tech destination by showcasing the city’s region’s fastest-growing and most innovative tech scaleups. 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 shares 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***

The report was revealed at a launch event on the 13th November, which saw 100 guests from the creative, tech, and digital sector join together for expert panels, networking opportunities, and a celebration of the successes of the 2019 Tech Climbers.

Commenting on the launch of the report, 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, MD, Portfolio at Praetura Ventures, added, “Praetura Ventures have always sought to support businesses in Liverpool City Region that are demonstrating outstanding innovation, and 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.” ** The LCR Tech Climbers Growth Report 2019 list is now live. **

This was posted in Bdaily's Members' News section by Ciara .