The organisation is a project, within the University of Manchester, focused on catalysing an Artificial Intelligence (AI) ecosystem within Greater Manchester.
Greater Manchester AI Catalyst Report which was released this week, finds that the city region now ranks 13th in Europe for AI talent, as it continues to establish itself as a globally competitive ecosystem for innovation, home to companies employing 13,500 AI professionals.
The report also highlights that, with the right support and investment, the city region’s AI ecosystem has the potential to be worth £11.2bn by 2035, increasing the number of AI jobs to 25,000 and achieving an economic impact contribution of £18.67bn gross value added (GVA).
The new report’s key findings highlight that Greater Manchester’s AI companies raised more than £435.44m in venture capital investment between 2021 and 2023, representing 28% of the £1.52bn raised by all tech start-ups and scale-ups in the city region over the three-year period.
And in 2024 alone, Greater Manchester AI companies secured £290.54m in venture capital, positioning the city competitively alongside other leading European cities, such as Madrid and Barcelona.
The city region is now establishing itself as a key global destination, attracting the attention of investors who are taking note of its high potential ecosystem.
One of the major contributing factors to Greater Manchester’s continued ascension as a leading European AI ecosystem is its balanced distribution of companies across early (30%), mid (31%) and late (39%) stages of growth, creating a flywheel effect that recycles talent, capital and scaling expertise.
Vibrant tech ecosystems thrive on this dynamic working in full force, with successful AI companies reinvesting their expertise and financial returns into the next generation of innovators, enabling a feedback loop that ensures continued growth and global competitiveness.
Following the recent government announcement of the AI Opportunities Action Plan, AI adoption has become a central focus for the country’s development.
The plan aims to accelerate AI integration across the UK, driving economic growth, creating future job opportunities, and enhancing businesses – which Greater Manchester will play a key role in activating.
The launch of the Greater Manchester AI Catalyst Report marks a critical moment for Greater Manchester’s AI ecosystem, drawing on the city region’s significant achievements and painting a vision of a future in which AI can drive regional economic and societal progress, as Greater Manchester continues to ascend as a global leader in innovation.
Liz Scott, executive director at the Turing Innovation Catalyst Manchester, said: “Manchester has long been recognised as the UK’s second city, in terms of the resilience, maturity and potential of its digital economy in a broad sense – but the growing strength of its AI cluster is what really sets it apart.
“The work we’re doing at the Turing Innovation Catalyst, in partnership with organisations across the public and private sectors, is about making purposeful investments that create the right conditions for innovation to thrive in all corners of society – from our universities to SMEs and large corporates, and with individuals who want to work with this expansive technology.
“Collaboration is critical to unlocking that, and this new report really highlights that as a priority for the city region.
“We have a lot to be proud of – from the levels of investment our AI companies are attracting to our global standing in comparison to other cities – but now we need to work together to realise our growth potential and lead the future of AI innovation.
“Greater Manchester is on a clear path of growth and our ambition is for the city region to be a leading destination for AI innovation globally.
“I hope that with the release of this report and a clear agenda for the future, the Turing Innovation Catalyst and partners can drive forward that growth – fostering an ecosystem that is inclusive, resilient and globally impactful.”
