The region's tech industries – technology, healthtech and medtech – are the largest outside of London, contributing billions to the regional economy and employing around 144,000 people.
There was a 25% increase in new tech companies, with 2,797 firms incorporated in 2024, showcasing the region's tech sector resilience amidst broader economic challenges.
- It’s home to over 2,000 tech startups and more than 6,000 tech businesses, including unicorn businesses like Gymshark and those that are on their way to achieving unicorn status - Strolll, FlexSea and Kaido Group.
- The West Midlands is also the UK’s leading regional location for Foreign Direct Investment. During 2024/25, the region represented the top-performing UK location outside of London for inward investment.
- It’s been designated as a Life Sciences Opportunity Zone.
- It’s home to Birmingham Tech Week, the UK's largest regional tech festival.
- The region is seen as an alternative to the traditional “Golden Triangle”.
- The University of Birmingham and the University of Oxford have several collaborative projects, including artistic partnerships, academic research, and outreach initiatives.
- There’s real local desire and drive for the people here to prove that the region is as good as anywhere in the world for technology businesses.
Centres of excellence and high growth clusters around:
- Automotive/EV – with some of the biggest global players, including Jaguar Land Rover and Aston Martin.
- Healthtech – with the West Midlands Health Tech Innovation Accelerator, which supports the advancement of UK healthtech businesses in getting innovative products to the market.
- Medtech – the largest cluster in the country and the second highest UK region for employment.
- Artificial intelligence – recognised as a UK powerhouse for AI with the Centres of Excellence for Regulatory Science and the Innovation in AI and Digital Health Technologies, hosted by the University of Birmingham.
- Cybersecurity – with the Cyber Resilience Centre for the West Midlands.