New tech businesses were launched every half an hour during 2020, according to new figures from the UK Government.

Data analysed by Tech Nation on behalf of the Department of Digital, Culture, Media and Sport (DCMS) shows that across the year, almost 20,000 entrepreneurs took the plunge and launched new tech businesses.

In total, 19,465 startups were registered in the ‘information and communication’ sector last year, ONS figures show – equivalent to a new business launching every 30 minutes.

Commenting on the research, Digital Secretary Oliver Dowden said the figures underline the growing importance of the technology sector to Britain’s economy.

“Back in 2018, a new tech business was born in the UK every hour. We said we wanted to double that rate and we have,” he said. “Tech will lead the way in helping us build back better and it’s fantastic to see so many people kicking off new businesses.”

The increase in tech businesses is contributing to a rapid growth in job vacancies across Britain’s technology sector, figures also reveal.

Vacancy levels have risen sharply since the beginning of the year, from 85,500 live vacancies in January to 116,000 as of 5th March. In February, 111,000 tech jobs were advertised across the country, with average salaries reaching £54,726 – also marking an increase from an average of £51,219 twelve months ago.

Overall, tech employment in the UK has increased by 11% in the past two years, now reaching almost three million people. Similarly, more than one-third (37%) of those employed in the digital tech sector hold non-tech roles, including legal, marketing, HR and administration, according to ONS figures.

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Although the coronavirus pandemic has raised significant challenges globally, it has presented opportunities for entrepreneurs and technology firms across a range of subsectors.

In terms of capital raised, Tech Nation stats show that the top 10 UK startups founded in 2020 are in sectors that were vital during the pandemic, such as insurance, eCommerce, healthcare and online payments.

“Even in the midst of a global pandemic, the UK’s entrepreneurial spirit cannot be dampened,” said Gerard Grech, Chief Executive of Tech Nation.

“Startups and scaleups formed during these last few months will be ones to watch in the future. Just as companies like Zoopla, DeepMind and Wise were born out of the last financial crisis, these figures give hope that the UK’s next big tech firms will be born out of this one,” Grech added.

407,505 businesses were born across all sectors in 2020, according to the ONS, which Tech Nation said represents the highest yearly total since 2017.

Business births were strong across all regions. Although most firms were born in London (107,310) and the South East (54,730), company incorporation was also strong in the North West and Yorkshire.

In the tech sector specifically, four cities outside of London, including Glasgow, Oxford, Leeds and Newcastle, achieved record levels of VC investment in 2020.