The number of tech startups formed in South Yorkshire increased by 18 per cent following the introduction of TEAM SY, a pioneering project to boost the tech startup and investment ecosystem in South Yorkshire.
Analysis of information held at Companies House shows that 741 tech companies were started in South Yorkshire in the 19 months between October 2021 and June 2023, the time TEAM SY was fully operational. This compares to 629 startups in the preceding 19-month period.
Tech startup birth rates increased by 16 per cent (to 435) and 22 per cent (to 151), respectively, in Sheffield and Doncaster, and by 49 per cent in Barnsley, which saw the emergence of 73 new tech startups. In Rotherham, the number increased by three percent to 82.
Darren Balcombe, Deputy CEO at Capital Enterprise and TEAM SY lead, said: “South Yorkshire is known for entrepreneurship and innovation, but these qualities need nurturing to thrive fully. TEAM SY leveraged public sector funding and private sector investment to grow the early-stage tech ecosystem in South Yorkshire. Today, we are witnessing a promising recovery, a reversal in the decline of startups following the pandemic, and a resurgence of innovation activity in our region.”
“However, our journey doesn’t stop here. We are committed to supporting the ecosystem to grow even stronger. Our vision is to cultivate an environment where globally competitive tech companies can be born and thrive, right here in South Yorkshire.”
TEAM SY launched in late October 2021 to help digital and tech businesses across South Yorkshire explore new ideas and markets, set up or scale up their companies, and create high-value jobs. A key objective was to help entrepreneurs gain financial backing for their enterprises and attract private investment to the region.
Since its launch, TEAM SY has supported 290 cutting-edge businesses working in areas including artificial intelligence (AI), the Internet of Things (IoT) and technologies to enable net-zero supply chains and industrial operations. Early-stage startups supported by TEAM SY have already created 100 new jobs and launched 90 new technology products.
