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Organisations from across the UK are being invited to apply for a Digital Growth Grant to deliver support programmes to boost small and scaling tech businesses.
The £12.09 million Digital Growth Grants will be used to run government programmes to open up access to skills training and improve regional support networks for tech and digital industries in all parts of the UK, with schemes expected to go live in April 2023. The launch of the grants follows news that the UK has overtaken China as a destination for investment in tech start-ups: the UK’s digital industry has raised more than £12 billion in venture capital funding in the first five months of 2022.
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:
- Support services for the digital sector, with a focus on emerging technologies such as AI, advanced computing and quantum.
- Grow regional support networks to improve access to investment in all regions of the UK.
- Digital entrepreneurship training for those starting tech businesses.
- Signposting tech start-ups to existing private and public sector initiatives.
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.
Applications to provide the scheme open from 15th August, with funding made available from 1st April 2023 for two years.