The North East of England's three largest tech show organisers are going into partnership to launch the first North East Digital Festival to showcase the region’s tech expertise.

North East is the fastest growing tech hub outside of London

The two-week event in May - the brainchild of Billy Webber, chief operating officer of Sunderland Software City - has brought together Thinking Digital, Tech Talent and Newcastle Startup Week, the organisations that have been spearheading the region's tech startup drive.Last year, Matt Hancock, the-then digital minister (now Secretary of State for Health and Social Care), praised the region as a quantum computing leader and described the area as the fastest growing tech hub outside of London, although growth has slowed in recent months.Speaking in Newcastle, Mr Hancock said the city had digitally transformed and was now home to 30,000 tech jobs, adding that the area's rejuvenation was a symbol of the "innovation, creativity and technical capability" that would change the way Britain would make its living in the 21st century.

North East Digital Festival will showcase region to investors

Mr Webber described the new, North East Digital Festival as "a great inward investment opportunity, and a chance to showcase the great stuff that is going on in digital in the North East".The festival will allow the region's tech sector to pool its resources and market itself to businesses and individuals outside of the area. It is hoped that the added promotion will convince businesses and talented workers to move to the area.Along with the three main events, the festival will also promote other meetings and events taking place across the North East.According to the latest report from insolvency and restructuring trade body R3, the North East's technology sector is continuing to see a steady reduction in its risk profile.The proportion of North East tech firms with a higher than normal risk of entering insolvency in the next 12 months has fallen for the fifth consecutive month and has now dropped below the national average.

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North East's tech sector is an increasingly low risk investment opportunity

Andrew Haslam, chair of R3 in the North East and head of specialist business advisory firm FRP Advisory’s Newcastle office, said, “The North East tech sector is getting an increasing amount of national recognition for its industry-leading capabilities and achievements, and its importance to the regional economy is growing concurrently.“The reductions in elevated insolvency risk levels over recent months have been incremental, but in the present economic climate, the fact that the IT sector has consistently improved by small margins over an extended period is a very welcome development.“Our hospitality sectors are continuing to hold their own at the top end of R3’s business stability rankings, while the North East construction sector, which was the worst-performing of its peers anywhere in the UK not so long ago, has now climbed up to fifth place and is doing better than the national industry average.“Despite this positive news, financial problems can hit any business in any sector at any time, and if business owners start to see trouble on the horizon, it’s crucial that they give themselves the best chance of reducing or avoiding it altogether by seeking qualified advice as quickly as they can.”Subscribe to Relocate Extra, our monthly newsletter, to get all the latest international assignments and global mobility news.Relocate’s new Global Mobility Toolkit provides free information, practical advice and support for HR, global mobility managers and global teams operating overseas.Access hundreds of global services and suppliers in our Online Directory

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