Chief Secretary to the Treasury visits Bristol’s Engine Shed

Economy & Politics | Events | Growth | South West | Start-up
Engine Shed, Bristol

Engine Shed tenants and SETsquared members, from technology firms developing driverless car technology to cutting edge 5G mobile networks, are among the companies helping to make the South West one of Britain’s start-up hubs.

This is according to the Chief Secretary to the Treasury, Liz Truss.

Latest figures show the economy in the South West is now worth more than £127 billion and is the second fastest growing economy of UK nations and regions, with year-on-year growth of more than 4%.

After meeting fast growing, high tech firms from Bristol and the surrounding area, including YellowDog, Ultrahaptics, and Blu Wireless, at a roundtable at Engine Shed on 2nd February 2018, the Chief Secretary to the Treasury, Liz Truss commented on the region’s growth.

She said: “Technology firms, like the ones I am meeting today in Bristol, help power Britain’s future. The Government is giving enterprise the freedom it needs to succeed. From Cornwall to Christchurch, The South West is buzzing with ambition and attracting interest and investment from around the world.”

Bristol has the highest start-up survival rate of all the UK’s core cities, and was named the best place to start a business by

The West of England’s scaling businesses are also thriving, with 635 scale-up companies identified in 2017.

The Chief Secretary visited and toured Engine Shed’s facilities, and previous tenant, Ultrahaptics facility nearby. The firm develops virtual reality technology and has raised more than £30 million in investment.

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