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Norwich located in the east of england has a rich history of entrepreneurship dating back to the 18th century the citys location on the river wensum made it a hub for trade and commerce attracting innovative thinkers and businesspeople today norwich has a population of over 140000 and is home to several universities including the university of east anglia and norwich university of the arts the city has seen a surge in technological innovation in recent years with startups in the fields of biotech fintech and software development emerging companies such as proxama a mobile payments platform and rainbird an aipowered decisionmaking platform were founded in norwich and have since expanded globally norwich also boasts a number of established companies headquartered in the area including aviva one of the uks largest insurance companies and archant a media company with a portfolio of newspapers and magazines the city has a rich cultural history with landmarks such as norwich cathedral and norwich castle attracting tourists from around the world the living wage in norwich is 950 per hour and the unemployment rate is currently at 42 despite the challenges posed by the covid19 pandemic norwichs startup scene continues to thrive the citys supportive business community access to funding and talented workforce make it an attractive location for entrepreneurs however the rate of new companies starting and ending is still a concern and more needs to be done to ensure the sustainability of the startup ecosystem in norwich
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