VC Firm Talis Capital critique Rishi Sunak's Job Support Scheme

by Startacus Admin

Vasile Foca, co-founder and managing partner at Talis Capital outlines why the Chancellor's measures are not enough to tackle the skills deficit and social security issues...

Vasile comments: “It is absolutely essential that the government has finally taken the decision to continue supporting businesses through the new job support scheme and the extension of CBILS loans, which will be a lifeline for small businesses through what will inevitably be a long and hard winter. But offering a new-age subsidy as a replacement of the furlough scheme is doing nothing to address the real problem.
From what we’ve seen within and outside of our portfolio, there’s been a huge number of redundancies as startups try to stretch their cash runways as far as possible.
The government needs to redirect some of its energy towards upskilling: it’s critical that we address the skills deficit in the tech sector, which is expanding 2.6 times faster than the UK economy. While the sector boasts huge demand for talent and skills, there were an estimated 600,000 unfulfilled vacancies in digital technology in the UK in 2018 - a gap which has only widened throughout the coronavirus pandemic.
If the government could subsidise courses and resources for digital skills qualifications for workers out of employment, the UK could even come out of the coronavirus recession with a skills dividend. This in turn would contribute to higher productivity, which will be even more crucial as we seek economic recovery.”
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.
Huckletree's new Web3 HQ aims to put London’s West End at the forefront of Britain’s tech superpower ambitions.

Kingussie High School scoops first place for Junior and Senior categories at this year’s Growing Future Assets Competition.

The lowdown on Manchester-based Arctic Shores and its innovative recruitment solution to help candidate potential count as much as skills and experience.

With the demand for tattoo removal now greater than ever, specialist NAAMA Studios makes a bid for a further £11m in funding.

By combining machine-learning with zero-party data, new tool launched by MarTech startup Qudo ends the ‘era of assumption’ for marketers.

Want to be your own boss and earn some money whilst travelling? Here are a few ways to do just that...

Innovative app marketing and analytics startup, App Radar becomes first platform to provide app marketers with Generative AI-powered insights into their own apps and competition.

Shropshire-based agri-robotics startup upp is automating broccoli harvesting and 'upcycling' the 80% waste into sustainable protein.

Alba secures licence to help transform banking for small and medium sized businesses in Scotland via its high-tech and customer-focused solution.

Making a few small changes in March could make all the difference for your business. Daniella Genas, founder of Be The Boss shares some tips on doing just that.
Published on: 25th September 2020
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.







- Huckletree opens new London hub for tech companies pioneering Web3 solutions 16th Mar 2023 Huckletree's new Web3 HQ aims to put London’s West End at the forefront of Britain’s tech superpower ambitions.
- Scottish Highlands Home to the Next Generation of Future Female Investors 15th Mar 2023 Kingussie High School scoops first place for Junior and Senior categories at this year’s Growing Future Assets Competition.
- London-based NAAMA Studios on a mission to raise £11m funding 14th Mar 2023 With the demand for tattoo removal now greater than ever, specialist NAAMA Studios makes a bid for a further £11m in funding.
- Qudo democratises data-powered marketing with new ‘freemium’ research and activation platform 14th Mar 2023 By combining machine-learning with zero-party data, new tool launched by MarTech startup Qudo ends the ‘era of assumption’ for marketers.