Diversity and purpose key to success of South West tech scene, survey says

A survey of more than 300 leaders of tech businesses across the South West has revealed the region can claim to be more diverse than many others in the UK on a number of key metrics. 

The research, commissioned by Bristol-based Antidote Communications, in conjunction with TechSpark, found that 36% of surveyed tech business leaders identify as female, surpassing the national averages of 22% of tech directors, 17% female start-up leaders (Startup Salary Survey) and only 8% of the FTSE CEOs. 

In addition, 29% of the leaders are non-white and 23% didn’t have a university degree. While these figures are positive and higher than national average, they are only a step in the right direction and show much more work needs to be done to reach equality. 

Tech leaders in the South West are predominantly first time entrepreneurs, according to the research, with 90% of those surveyed having never sold a business before and only 19% having received funding for their business. 

While the research found that there has never been a better time to start a successful business, an encouraging result found that the majority of these leaders are purpose driven, with 72% of the surveyed tech leaders put purpose before money. This humanisation of business culture may have a lot to do with the pandemic, but its origins also lie in a strong ethical and environmental movement in the South West that is attracting like minded people and entrepreneurs to the region, according to Antiode Communications. This figure saw the greatest difference between the age categories. 90% of the 26-30 age group placed purpose above money, while only 40% of the 56-60 age group did the same. 

“Despite the pandemic, the last two years have seen a record number of new businesses erupt onto the tech scene," said Becca Williams, Antidote Communications CEO. "These findings show why many chose to set up shop in the South West while also exploring what it takes to be a successful tech leader. It’s highly encouraging to see that the majority of these leaders are purpose driven, looking to form connections, build strong relationships and make a positive impact.”