The West of England is emerging as a significant player in the realm of innovation and cutting-edge technology, challenging long-held stereotypes about its economic contributions. While the region boasts a strong food and drink sector and a thriving tourism industry, it is also home to major employers in aerospace and a surge of high-tech start-ups stemming from local universities. Industries such as nuclear, mining, space, and marine technology are witnessing considerable growth alongside traditional sectors like financial services and law.
Significant developments in the region include the planned cyber development known as Golden Valley in Gloucestershire, the Hinkley Point C power station in Somerset, and Bridgwater's Gravity campus, which is set to host the UK’s largest gigafactory. Additionally, Cornwall houses notable facilities such as the Goonhilly Earth Station and the Spaceport at Newquay Airport, where the UK made an attempt to launch a satellite from British soil last year.
The economic landscape is dotted with success stories of prominent companies that have established their headquarters in the region, including ethical bank Triodos and investment firm Hargreaves Lansdown located in Bristol, cosmetics brand Lush in Poole, and engineering company Renishaw in Gloucestershire. The recent focus also includes innovation, with five rising companies identified as ones to watch in the upcoming year.
One of these companies is Q5D, a robotics firm based in North Somerset. Established in 2018, Q5D has developed patented technology designed to automate the wire laying process in various manufacturing sectors, including aerospace and automotive. Earlier this year, the company secured £500,000 from a private equity firm, as part of a larger £2 million investment round, which facilitated the expansion of its testing hub in Portishead and supported the fulfilment of existing contracts. The company's co-founders, Chris Elsworthy and Simon Baggott, were honoured with the Manufacturing Innovation award at the Robotics and Automation Awards in London.
Kelpi, a B Corp biotech organisation founded by Bath University's Professor Chris Chuck and entrepreneurs Neil Morris and Murray Kenneth, has uncovered a solution for compostable packaging utilizing seaweed. Operating from the Science Creates incubator in Bristol, the firm raised £4.3 million in 2024 to bring its product to market. This funding will allow the company to recruit additional scientists, engineers, and commercial staff to initiate large-scale pilots of the innovative material developed over three years.
Mitchell & Webber, a family-run business based in Cornwall, has gained attention for its alternative heating fuel systems over the last four years, employing hydrotreated vegetable oil (HVO) as a substitute for traditional fuels. This initiative was showcased to a government select committee during a visit to Kehelland, where the trial is ongoing. Despite challenges posed by taxation on HVO, the company aims to further engage with the government to promote the benefits of this renewable fuel.
Another noteworthy enterprise is RoleMapper, an Exeter-based company founded by Sara Hill in 2019. It has created an AI-driven platform aimed at enhancing diversity in recruitment practices. Last year, RoleMapper raised £2.1 million in funding to bolster job creation and business growth. The company’s technology enables firms to evaluate candidates based on their skills rather than their educational backgrounds, fostering hybrid and flexible working arrangements, and has been recognised as a leading early-stage tech company in the UK.
Completing the list is Anaphite, a battery technology firm launched in Bristol in 2018 by chemist Sam Burrow and physicist Alexander Hewitt. The company has made strides in developing technology that reduces the costs and energy requirements associated with electric vehicle battery manufacturing. Anaphite secured £10.4 million in a Series A funding round last year, allowing it to establish a manufacturing plant and invest in research and development, while creating new job opportunities.
The ongoing advancements and innovations within these businesses highlight the West of England's growing significance as a technological hub, paving the way for future economic developments influenced by AI automation and emerging technologies.
Source: Noah Wire Services