© Whitecap Consulting
Greater Manchester FinTech
ECOSYSTEM REPORT 2020
1
Research area:
This report focuses primarily
on the activity in the
geographical area covered
by the Greater Manchester
Combined Authority. Where
firms are based outside
the official boundaries but
are active in the FinTech
ecosystem, they have been
included in the report.
Thank you to the organisations who have supported and co-funded this research:
Greater Manchester FinTech Ecosystem Summary
2
Forewords
5
Whitecap Consulting
6
The University of Manchester
7
FinTech North
9
Innovate Finance
10
MIDAS
11
Greater Manchester FinTech Ecosystem Research 2020
13
Definitions And Methodology
14
Overview
15
Findings And Recommendations
20
Availability Of Talent
22
Strength Of The Established Financial Sector
24
Strength Of The Overall Tech Sector
26
Case Study: Shaping FinTech Innovation for over 25 years
28
Strength Of FinTech Startup/Scaleup Community
29
Relationship between Startups /Scaleups & Established
Financial Sector
32
Funding For FinTech
34
Physical Spaces/Hubs
36
Interaction And Communication Between Key Players
39
Press & Social Media
41
The Role Of Universities
43
Case Study: Innovation Labs facilitating academic-led solutions
to business challenges
45
Participating Organisations
46
Table of contents
© Whitecap Consulting
Published April 2020
add region graphic
2
© Whitecap Consulting 1
GREATER
MANCHESTER
FINTECH ECOSYSTEM
- SUMMARY
© Whitecap Consulting
Greater Manchester FinTech Ecosystem summary 2020
51%
are startups
6 yrs
average age
of firms
39firms,
employing
985people
44yrs
average age
of founders
61% B2B
61% B2C
FinTech startups & scaleups
79%
have main office
in the region
1. Manchester was the fastest-
growing tech city in Europe in
2019 and more than doubled its
investment to £181m2.
2. One of Europe’s leading digital
and technology clusters.
3. Manchester has been recognised
as Europe’s fifth best large city for
business, ranking first for business
friendliness and third for Foreign