-
Successful provider will receive £12 million Digital Growth
Grant to deliver the scheme, which will tackle challenges
facing small and scaling tech firms
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Programme will tackle challenges facing small and growing
tech businesses, including improving connections with
investors and increasing diversity through skills training
Organisations can now apply to deliver a UK-wide programme of
activity supporting the UK’s digital and tech start ups and scale
ups.
The successful provider will deliver a programme from April 2023
to open up access to skills training and advice across the
country, and improve regional support networks for startups and
scaling companies in the digital and tech sector. This will help
create more regional hubs with wealth-generating tech businesses
offering high skilled jobs, benefitting startups outside of major
cities.
Recent figures show the UK has overtaken China on investment
secured by tech start ups, raising more than £12 billion in
venture capital funding in the first five months of 2022.
The successful provider and will receive a £12.09 million Digital
Growth Grant from the government to run the programme, which will
help the UK’s early-stage tech firms build on their success.
Organisations can apply individually or join together to bid to
become the provider.
The programme will tackle some of the biggest challenges facing
small and growing tech businesses, such as improving connections
between startups and investors with better access to tailored
mentoring and advice for founders. There will also be help to
drive up diversity and representation in the tech workforce
through skills training and sector networks.
Applicants should have a strong presence in the UK and a deep
knowledge of the domestic digital sector to provide support for
small businesses.
Digital Minister said:
The success of our startups and scaleups has driven the UK ahead
of Europe and China to be second in the world for tech investment
this year. We want every corner of the country to feel the
benefits of tech success and we’re looking for an industry
partner to help make this possible through the Digital Growth
Grant.
The Digital Growth Grant will fund a nationwide programme to:
- Deliver support services to the digital sector, with a focus
on emerging technologies like artificial intelligence, advanced
computing and quantum. These services should address key
challenges faced by a wide range of companies from the seed
funding stage to their first or second round of financing.
- Grow regional support networks. Activities should improve
local investment, innovation and business growth; be tailored to
the needs and tech specialisms of different areas; and be
developed in partnership with local bodies and existing tech
groups.
- Ensure founders and firms can access digital entrepreneurship
training with tailored advice to help start and grow a tech
business.
- Clearly signpost startups and scaleups to existing
initiatives in the private and the public sector across the UK
that can help them access finance, talent and markets.
The Department for Digital, Culture, Media and Sport will be
accepting applications until midday on 15 August 2022.
Notes to Editors
Further detail about this grant is available here. Interested
organisations can attend one of our upcoming webinars about this
grant by registering here.
The funding will be awarded from 1 April 2023 for two years,
running until 2025.
