Tech Nation is gearing up for a highly anticipated relaunch, set to take place during Birmingham Tech Week in October. This exciting development marks the organization’s resurgence after an eight-month hiatus, during which it ceased operations in March.
The catalyst for this temporary closure was the loss of a crucial £12 million government grant to Barclays Eagle Labs, which had been Tech Nation’s primary source of income. However, the Tech Nation brand found a new home with the Founders Forum Group in April.
It is scheduled to officially re-enter the tech ecosystem on October 16th, with Founders Forum Group CEO, Carolyn Dawson unveiling the vision for “Tech Nation 2.0” during a breakfast session at Birmingham Tech Week.
According to a report, now operating as part of the Founders Forum Group, the relaunched Tech Nation will continue four of its predecessor’s successful startup growth programs: Libra, a program dedicated to supporting ethnic minority founders; Rising Stars, a competition designed for early-stage startups; The Climate Programme, an initiative focused on climate tech companies; and Future Fifty, a program tailored to late-stage businesses.
Founders Forum Group co-founder and chair, Brent Hoberman envisions the relaunched organization as a “lightning rod” supporting the UK’s most promising businesses and founders.
Read Also: A complete guide to getting a Tech nation visa (UK Global Talent visa)
Tech Nation 2:0: Mission remains unwavering
It will remain the endorsing body for digital technology applications under the Global Talent visa, ensuring continued support for international tech workers. Also according to the report, there are ongoing discussions with the Home Office to secure the long-term future of this valuable scheme, i.e. emphasizing Tech Nation’s role as an “independent voice for founders.”
The new edition will start operations with only eight full-time staff members, and several more team members involved in Founders Forum operations as the organization scales up. This is a big gap from its previous numbers of over 50 individuals when it was in process in March.
Gerard Grech, the founding CEO of Tech Nation, will contribute as an advisory board member to the new Tech Nation. Furthermore, Founders Forum, known for its global network connecting founders, investors, corporations, and governments, is a partner of Informa Tech for London Tech Week.
Tech Nation’s contribution to the tech community
The previous iteration of the startup growth company provided invaluable support to over 1,000 companies over the past decade. Among them are companies that have achieved unicorn valuations exceeding $1 billion, such as Darktrace, Monzo, Wise, and Revolut.
An evaluation conducted by consultancy firm, Frontier Economics on behalf of the government, found that Tech Nation’s growth programs delivered a more significant economic impact than their public funding cost during its final three years.
Its temporary shutdown marked a significant moment in its 13-year history. However, the organization’s impending relaunch promises to reignite its crucial role in propelling the UK’s tech ecosystem forward.
With a clear vision for “Tech Nation 2.0,” continued support for tech entrepreneurs and a commitment to championing innovation, it is poised for a bright future as it reenters the landscape it has profoundly influenced for over a decade.
Also, the report mentioned that the startup growth company has initiated preliminary discussions with Barclays Eagle Labs, signalling a collaborative stance rather than a competitive one, as both entities focus on fostering startup growth.
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