Tech Nation responds to the DCMS Digital Growth Grant announcement
by Startacus Admin
Tech Nation shares an overview of the impact they have had on the UK's tech economy and ecosystem.
When Tech Nation was founded by the government over nine years ago, the UK’s tech economy was fledgling. Their growth programmes, visa scheme, digital academy, networking conferences, international expansion programs, sandboxes, panels and in-depth sector research, analysis and reports have helped shape the trajectory and success of UK tech, now valued at $1trn (16x in 10 years) and employing 4.8m people (2x in 10 years)with salaries 80% higher than professional jobs. Additionally, UK tech secured over $30Bn in private capital in 2022, double our nearest European counterpart.
Within the UK Tech ecosystem, their focus has been on supporting the scaleups which create over 90% of U.K. tech jobs, and they're proud of the fact that those they’ve accelerated have disproportionately thrived. While 80% of start-ups fail within their first 2-5 years, over 95% of start-ups on Tech Nation’s growth programmes have gone on to scale. Some 40% of all tech unicorns and decacorns created in the UK have graduated from a Tech Nation growth programme, collectively raising over £28.1bn so far in venture capital and capital markets. 13,000 jobs have been created nationwide as a direct result of their intervention. Their alumni includes the biggest names in UK tech; Monzo, Revolut, Bloom and Wild, Zilch, Just Eat, DarkTrace, Marshmallow, Sky Scanner, Peak AI and Deliveroo, to name just a few of the 5,000+ businesses they've supported.
As a government backed organisation, they’re also proud that Tech Nation has delivered one of the best ROIs for the taxpayer, delivering £15 return on every £1 invested by the UK Government.
In anticipation of the Government’s decision to award the Digital Growth Grant to another party, they have been working around the clock to secure their future and continue delivering for UK scaleups. It is essential that any route forward for Tech Nation ensures they are able to continue to act in the best interest of the tech community and put the needs of scaleups front and centre. This is the principle that has always guided them, and will guide their decision making over the next steps they take from here.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Want to gain an edge over your business competitors? Listening to your audience is an absolute must.
The Clothes Doctor mission to fight fast fashion continues as the innovative eco clothing care brand raises £1m to support further growth.
If you plan on using social media to promote your brand, these simple rules will help, increasing both brand awareness and the number of consumers.
High-potential social impact startups from the UK sought for the 9th annual Les Tremplins by Voyage Privé programme.
Small Business Britain’s ‘How to Grow’ report outlines how small businesses are responding to economic challenges and how they can grow during recession.
Odd Coffee Company - the startup that's tackling coffee wastage by offering sustainably-sourced surplus coffee, rescued from British roasters.
Tech Nation shares an overview of the impact they have had on the UK's tech economy and ecosystem.
The lowdown on London-based Tutti and its digital marketplace that connects event space owners with the creatives wishing to book them.
.jpg)
UK-based and got a business idea with a link to colour or colouration? A new investment fund from The Dyers' Company is well worth a look.
Thinking of growing your business? Having your own fleet of company vehicles ought be one of the factors to consider.
Published on: 20th January 2023
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Leading French Travel Co. Offers Mentoring to two UK startups on its prestigious two-month programme 23rd Jan 2023 High-potential social impact startups from the UK sought for the 9th annual Les Tremplins by Voyage Privé programme.
- Small businesses need new model for growth in recession 23rd Jan 2023 Small Business Britain’s ‘How to Grow’ report outlines how small businesses are responding to economic challenges and how they can grow during recession.
- Tech Nation responds to the DCMS Digital Growth Grant announcement 20th Jan 2023 Tech Nation shares an overview of the impact they have had on the UK's tech economy and ecosystem.
- Colour/dyeing industries- seed capital investment fund launches for UK entrepreneurs 19th Jan 2023 UK-based and got a business idea with a link to colour or colouration? A new investment fund from The Dyers' Company is well worth a look.
