New study names Milton Keynes one of the most innovative UK cities in 2021

A talented and skilled workforce also contributes to MK being one of the best places to start a new business

By Olga Norford
Wednesday, 24th November 2021, 10:30 am

Milton Keynes is one of the most innovative cities in the UK, ranking 12th in a new study.

The study scored 60 locations on the following factors that influence innovation:

> Business startups - Number of patent applications and new business registrations

Milton Keynes ranked 12th as one of the most innovative cities in the UK

> Qualified workforce - Percentage of the working age population with NVQ4 and above education

> Profession knowledge - Percentage of private knowledge intensive business services jobs

> Entrepreneurialism - Google search volumes and trends for ‘how to start a busines

Milton Keynes ranked highly for its business innovation, scoring well in all four areas studied. This has helped attract new talent, organisations and business events to the area.

Milton Keynes ranks 12th place on the index with an innovation score of 68.7 out of 100

With 74 new business start-ups per 10,000 people, the professional landscape in Milton Keynes has continued to grow in recent years, particularly in digital and tech industries. Small businesses can benefit from Milton Keynes' ecosystem and close connection to the South East and the East Midlands - supplying a diverse workforce and helping businesses to thrive. With an advancement in job roles and opportunities this also means the city has a lot to offer those that live there.

44% of workers in Milton Keynes are qualified with an NVQ4 or above, meaning the town has a talented and skilled workforce. Entrepreneurial spirit is also high in Milton Keynes with residents searching for 'how to start a business' over 910 times a month. This is also reflected by the number of kickstarters, with more than 154 ideas registered with an average of £4,716 pledged for each.

Not surprisingly London ranks as the most innovative city in the UK, scoring 86.4 out of 100 on the Innovative index, according to the study conducted. by UK card payments provider Paymentsense.