Alumni of the Exchange programme, which supports early-stage founders with mentoring, networks and investment-readiness support, have raised more than £78m in funding and created over 1,000 jobs to date.
The recognition comes amid continued scrutiny of regional imbalances in UK innovation funding. London continues to attract a disproportionate share of venture capital investment, intensifying debate about the strength of scale-up infrastructure in regional technology clusters.
Exchange, which is operated from Department at Campfield in Manchester St John’s innovation district, joins 149 other accelerators from across Europe in the list compiled by the Financial Times, in partnership with Statista and Sifted.
The ranking evaluates performance based on alumni feedback, growth outcomes, and the quality of mentoring, infrastructure, funding access, and business support.
Since launching in 2020, Exchange has supported over 270 businesses, with alumni securing over £78m in external investment during and after programme participation and creating over 1,000 jobs.
A significant proportion of participating companies operate in the technology and digital sectors, reflecting Manchester’s expanding role as a regional tech hub.
Among them is HACE, a female-founded Tech for Good start-up addressing child labour, which joined Exchange in 2023. During the programme, the company completed an oversubscribed pre-seed funding round, raising in excess of £450,000, including investment from Manchester-based backers connected through the Exchange network.
It has since doubled the size of its team, hiring from the city’s graduate ecosystem, and created opportunities for young people through more than 20 student placements and four work experience roles across the University of Manchester, Manchester Metropolitan University and the University of Salford. HACE is now a founder in residence at Department at Campfield.
Commenting on the news, Rich Jones, head of Exchange, told That's Business: “Inclusion in the Financial Times ranking matters because it’s based on founder feedback and real business performance. The companies that come through Exchange are raising capital, increasing revenue and growing their teams at pace.
“For a long time, scaling meant looking to London for investment and infrastructure, but we’re increasingly seeing founders access experienced workers and credible funding networks here in the North.
“The jobs created and funding secured by our alumni businesses only go to show that high-growth companies can scale successfully from Manchester and build serious, sustainable operations.”
Exchange operates within Department at Campfield, a 135,000-square-foot technology campus designed to cluster digital, media, and creative businesses within a single commercial environment. By combining structured accelerator support with embedded workspace and proximity to established operators, the model enables participating companies to learn and scale within Manchester rather than relocating. Department differs from many workspace operators because it pairs the space with an active operating layer, running year-round programming, events and partnerships that connect members to new business partnerships, talent and collaborators.
Find out more about Exchange at Department, visit: https://www.exchange-programme.com
