THE number of new tech companies being set up in Northern Ireland rose by nearly 10 per cent in 2020, according to analysis by audit, tax and consulting firm RSM.
Some 154 tech businesses were incorporated last year, according to data held by Companies House, which is seven per cent up on the figure of 140 in 2019.
And Northern Ireland sits within the top four for regional growth behind the West Midlands with its increase of 40 per cent, London at 24 per cent and Scotland at 12 per cent.
Michael Blair, head of RSM’s technology and media team in Belfast, said: "Despite the acute impact of Covid-19 and the lockdown restrictions, it’s encouraging to see growth in the Northern Irish tech sector as entrepreneurs seize the opportunities that the pandemic has revealed for technology to support new ways of working and digital entertainment.
"Our findings are in line with the growing worldwide reputation of Northern Ireland as a key region for the tech sector and is testament to the quality of talent and innovation across all of Northern Ireland.
"In 2020, the UK attracted $15bn in investment and sits third internationally for tech incubations according to the latest Tech Nation report – demonstrating that the UK continues to stride ahead of other European countries, despite Brexit, and remains the first-choice tech hub after the US and China."
He added: "With Northern Ireland’s unique place in Europe and the UK, and the relationships across the entire island of Ireland, we expect to see opportunities for both growth and inward investment in the coming years.
"London will always be a target for investment due to the financial and private equity infrastructure, but it’s great to see strong growth in Northern Ireland, where thriving industries such cyber security are fuelling regional growth."
