Trending Southampton, UK Startups

Southampton located on the southern coast of england the city attracts both tourists and startups the city has been a major port for centuries attracting traders and innovators from all over the world in recent years the city has also become a hub for technology startups two universitiesthe university of southampton and southampton solentsupport the hub there are 100 businesses based at the university of southampton and since 2000 27 spinoffs have been created with a population of over 250000 people southampton is a diverse and dynamic city the local economy is driven by industries such as shipping aerospace and education the city is also home to two universities the university of southampton and southampton solent university the vibrant innovation culture in this city is supported by the university of southampton it is the location of the renowned web science institute which works to address the major issues that society and the world wide web are currently experiencing additionally it is one of the original members of the southern englandbased setsquared collaboration a network for company incubation managed by five universities in terms of technological innovations southampton has been a pioneer in fields such as oceanography wireless communication and healthcare technology notable companies founded in the area include the ordnance survey the national mapping agency of great britain and the cruise line company po the city has a gdp of us 516 billion making it one of the largest economies in the region southampton is known for several key historical events such as being the departure point for the titanic and the site of the battle of agincourt in 1415 the living wage in southampton is 950 per hour which is slightly higher than the national living wage of 891 per hour the unemployment rate in the city is currently 55 which is lower than the national average of 63 in terms of new companies southampton has seen a steady rate of startups over the past few years however the city has also seen a high rate of company closures which could indicate a challenging environment for new businesses the citys proximity to london and other major cities as well as its strong technology and innovation sectors make it an attractive location for entrepreneurs however the high rate of company closures and competition from other cities in the region could pose challenges for startups looking to establish themselves in the area