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.
Tobin Capital continues to expand its portfolio by investing in pop-up marketplace Sook, the startup on a mission to revolutionise the high street.
Sodexo and L Marks open call for applications from innovative startups and scaleups to join their inaugural Sodexo Healthcare and Seniors Accelerator.
The lowdown on FuturePlus, the startup that's on a mission to make sustainability accessible, achievable and affordable for all businesses.
.jpg)
John McLachlan, author and co-founder of Monkey Puzzle Training & Consultancy examines the differences between action-oriented and reflective leaders and which approach is best.
The fitness app that's not just about physical fitness; GoJoe helps employers to engage, motivate and connect their people across all pillars of wellbeing.
Now in its fifth year, North West England water firm United Utilities opens call for Innovation Lab, its pioneering ideas incubation programme.
Not-for-profit OneTech has spunout from Capital Enterprise to expand its offering and continue its mission of creating a more equitable, diverse and supported startup ecosystem.
London-based startup Deep Render tackles the internet’s data and bandwidth challenges via its innovative AI-powered file compression technology.
The lowdown on Dublin-based startup and NUI Maynooth spin-out Neuromod Devices and its innovative evidence-based bimodal neuromodulation treatment for chronic tinnitus.
.jpg)
With the clear shift towards generative AI, Richard Hayes, search director at digital marketing agency Catalyst explores what it means for SEO...
Published on: 20th January 2023
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Startup Sook Receives Investment from Tobin Capital 24th May 2023 Tobin Capital continues to expand its portfolio by investing in pop-up marketplace Sook, the startup on a mission to revolutionise the high street.
- L Marks Seeking Startups and Scaleups for Sodexo Healthcare and Seniors Accelerator 23rd May 2023 Sodexo and L Marks open call for applications from innovative startups and scaleups to join their inaugural Sodexo Healthcare and Seniors Accelerator.
- United Utilities Innovation Lab launches call-out for innovative ideas for fifth programme 18th May 2023 Now in its fifth year, North West England water firm United Utilities opens call for Innovation Lab, its pioneering ideas incubation programme.
- OneTech Spins Out from Capital Enterprise to Support Underserved Communities in Tech Across the UK 18th May 2023 Not-for-profit OneTech has spunout from Capital Enterprise to expand its offering and continue its mission of creating a more equitable, diverse and supported startup ecosystem.
