The proportion of technology employees in Cambridge is nearly two-and-a-half times the UK national average and is on a par with the eco-system around Nasdaq companies in the US.
It finds that the technology sector shifted up another gear during the fourth quarter of 2013, with strong inflows of new work driving the steepest expansion of business activity for almost a decade.
As a result, the UK tech segment ended the year on a much firmer growth footing than it started, with a cyclical upswing first emerging in the spring of 2013 and picking up sharply since the autumn.
Charles le Strange Meakin, technology Partner for KPMG in the East of England, said: With a world-class university, world-class research infrastructure and numerous business parks, it is little surprise that the East of England has the highest concentrations of tech employment outside of London. Additionally, the strong tech start-up scene, provides a further boost to the draw of the local area.
The CambridgeStanstedLondon corridor is a key centre of gravity for tech sector employment and major infrastructure advantages for local authorities that lie in this corridor are good road transport links to central London and Stansted Airport via the M11, as well as direct train routes to key parts of the capitals tech scene.
The report also shows that, contrary to popular belief that the UK lags behind the US tech sector, trends in UK tech business activity closely match the performance of the Nasdaq.
As the UK tech sector continues to go from strength to strength, with a sharp increase in business activity, a rise in new orders and an increase in profitability despite higher costs, it can only be really good news for our local economy, creating confidence in the business outlook and solid rates of job creation, well above the rates in other sectors of the economy.
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