When fin and tech meet
The digital tech economy in Glasgow is blooming. The Digital GVA is £591m. This is not a surprise as more and more companies look to establish themselves in the city. Among other reasons, cost is a very important factor. Entrepreneurs in Glasgow enjoy very competitive property prices with occupation costs around 40% lower than in London..
The International Financial Services District has already attracted more than £1b investment.
Many large financial firms have established themselves in Glasgow: JP Morgan, Barclays, BNP Paribas, Morgan Stanley, Santander, Clydesdale Bank, Axa, Zurich Insurance and more.
Strathclyde university has already spun out more than 50 companies with annual sales exceeding £80m. The university was the first in the UK to offer a Masters in Fintech.
Overall, between 2011 and 2015 the number of digital tech businesses has gone up by 33%. Collaboration between Glasgow universities is strong as demonstrated in the latest partnership between Strathclyde University and Glasgow University.
Glasgow City Region City Deal
The Glasgow City Region City Deal is transforming Glasgow city region. It represents £1.13 billion of public sector investment in twenty major infrastructure projects.
The Glasgow City Region City Deal is expected to give Glasgow city region a permanent uplift in its GVA of £2.2 billion per annum, unlocking £3.3 billion of private sector investment along the way.