06/27/2022 | Press release | Distributed by Public on 06/27/2022 06:36
Organisations can apply individually or join together to bid to become the provider of new UK digital and tech sector support programme
Successful provider will receive £12 million Digital Growth Grant to deliver the scheme, which will tackle challenges facing small and scaling tech firms
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 Chris Philp 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:
The Department for Digital, Culture, Media and Sport will be accepting applications until midday on 15 August 2022.
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.