Swindon & Wiltshire News
Innovative Bristol tops UK startup index
Bristol has been ranked Number 1 in the league of the UK cities for startups, outperforming rivals like Cambridge, Leeds and Edinburgh.
In the BNP Paribas Real Estate’s UK Startup Index, the city scored highest for its access to talent score, partly owing to its growing population – up 10.6 per cent between 2012 and 2022 – coupled with a projected 3.8 per cent rise in its young, working-age population over the next 15 years – well above the UK average of -0.1 per cent.
A highly-educated population further strengthened its position, with 74 per cent of the population educated to A-Level or equivalent.
More than 14 per cent of the city’s population are enrolled at either the University of Bristol or University of the West of England, compared to an average share of 7.6per cent across the Big Six UK regional markets.
The report’s authors said the influence of both universities was key to supporting the next generation of Bristol’s workforce and new businesses.
This, they said, is an active objective for University of Bristol, who are developing Phase One of the Bristol Temple Quarter Enterprise Campus, a major innovation hub, opening September 2026.
The city also scored well for its support of startups, helping early-stage business development through its broad range of flexible workspaces, spanning incubators as well as a diverse mix of co-working spaces.
And its “breadth of new industry sectors” is also a bonus, said the report, with AI, green tech, health tech, and semiconductors spinning out of the universities.
However, the report said investment in more commercial space was vital if the success was to continue.
The city already has the highest prime rents across the regions at £49 per sq ft and expected to break the £50 per sq ft mark imminently.
Average rents achieved have also outstripped the Big Six average by 25 per cent since the start of 2024, posing affordability challenges for startups seeking high-quality space.
The ongoing supply / demand imbalance of high-quality office space is exacerbating this, with its future development pipeline looking increasingly thin, said the report.
Kevin Hunt, head of BNP Paribas’ Bristol office, said: “Bristol’s limited development pipeline for high-quality, city centre, Grade A offices continues to apply upwards pressure to prime rents, which now top the UK regional markets.
Occupiers are having to look further in advance of upcoming lease events in order to secure upgraded office space that aligns with their requirements – good sustainability credentials, amenity provision and improved client-facing space).”
BNP Paribas Real Estate recently embarked on a relocation to occupy 3,000 sq ft at Halo as part of its wider strategic UK portfolio upgrades.
Pictured: A new build flexible lab-enabled building for the University of Bristol at Silverthorne Lane. The building will provide c250,000 sq ft of office and lab space along the river
