It has been confirmed that Tech Nation will no longer be the recipient of the £12.09 million Digital Growth Grant after a six-year tenureship.

Barclays Eagle Labs has been awarded the grant intended to boost small and scaling tech businesses throughout the UK following an open competition and subsequent assessment by an independent panel.

In a response put out to media, Tech Nation stated that ‘in anticipation of the Government’s decision to award the Digital Growth Grant to another party, we have been working around the clock to secure our future and continue delivering for UK scaleups.’

The statement went on to say: ‘It is essential that any route forward for Tech Nation ensures we 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 us, and will guide our decision making over the next steps we take from here.’

Estimates suggest strengthening regional tech industries could grow the UK’s digital sector by an additional £41.5 billion by 2025 and create 678,000 jobs.

The grant will fund training resources and opportunities for entrepreneurs, including a Learning Management System providing virtual training to over 10,000 businesses and training modules created for young people.

Minister for Tech and the Digital Economy, Paul Scully, said: “We want to unlock the potential of the next generation of start-ups and scale-ups and boost tech businesses in all corners of the country.

“Barclays Eagle Labs are digital industry experts and will help tens of thousands of tech firms and founders to achieve their dreams and create jobs and economic growth.

“The Digital Growth Grant was awarded following an open competition and rigorous assessment process. The Barclays Eagle Labs bid represented the best value for taxpayers’ money as the full grant will be allocated to supporting the UK tech ecosystem, with Eagle Labs absorbing all operational and people costs associated with delivering the programme of activity.”

It funding will enable Eagle Labs to launch new programmes in a bid to grow tech businesses, as well as increasing access to Eagle Labs’ existing services. The funding will double the number of mentoring sessions offered to tech firms to 1,500 a year.

The independent panel assessing applications concluded Eagle Labs was ‘uniquely positioned to deliver targeted support across the country’.

Amanda Allan, Director of Barclays Eagle Labs, said: “Eagle Labs’ vision is to make the UK tech sector an engine for growth and for the UK to be the best place in the world to start and grow a tech business.

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“Through the Digital Growth Grant, we’re excited to double down to reach more businesses across the country with our best-in-class business growth programmes and bespoke regional support.

“We have a track record of supporting over 8000 start-ups and high-growth businesses since we launched in 2015 and we’re proud that, due to our established Eagle Labs network, we can pass through all grant funds to our delivery partners and programmes, helping to maximise the impact of the grant in supporting the UK tech ecosystem.”

Tech Nation will continue to deliver remaining DCMS grant funding until March 2023. The Digital Growth Grant will be awarded to Barclays Eagle Labs from April 2023 and will fund activity until March 2025.

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