Tech Nation announces it will cease operations, including as endorsing body for visa purposes, on 31 March 2023
Tech Nation, a non-profit organisation that has been providing support to the UK's tech industry for the past 10 years, is shutting down due to a lack of funding from the UK government.
The organisation was previously backed by the UK government, but the funding has now been directed towards another program run by Barclays Bank.
The shutdown of Tech Nation is set to take place on 31 March 2023, while it searches for new funding channels. In the meantime, the organisation is open to anyone interested in acquiring its assets.
When Tech Nation was founded by the coalition government, the UK’s tech economy was burgeoning. Tech Nation’s growth programs, digital academy, networking conferences, international expansion programs, sandboxes, panels and in-depth sector research, analysis and reports have helped shape the trajectory and success of UK tech; the no.1 digital economy in Europe and no.3 globally, valued at $1trn (16x in 10 years), employing 5m people (from 2m in the decade) across the country, with over 20 places in the UK home to one tech unicorn or more (5x in 10 years).
Tech Nation alumni includes the biggest names in UK tech – Monzo, Revolut, Depop, Bloom & Wild, Zilch, Just Eat, Darktrace, Marshmallow, Ocado, Skyscanner, Peak AI and Deliveroo, to name just a few of the 5,000+ businesses supported.
The UK government has already started searching for another endorsing body to replace Tech Nation for visa purposes in the digital field and shall provide further updates on this in due course.
Posted on Jan 31, 2023.