Earlier this year, the non-profit said it was sunsetting operations after its core grant funding was awarded to a Barclays Bank programme.
Tech Nation, one of the most prominent start-up networks in the UK, has announced plans to relaunch the brand with a £10bn investment after a brief hiatus in its operations.
The non-profit powered by Founders Forum Group said yesterday (16 October) at Birmingham Tech Week that it is returning with a commitment to invest £10bn in UK start-ups of all stages and parts of the country over the next five years.
After more than a decade supporting start-ups in the UK, Tech Nation announced early this year it was planning to cease operations at the end of March 2023.
Tech Nation launches back into action today at @TechWestMids
The leading platform for #tech insights, connections, collaboration and talent, supporting ambitious #founders with the access and knowledge they need to grow from seed stage to success story. https://t.co/duNB3OGEfp pic.twitter.com/LwJ4v58zTf
— Tech Nation (@TechNation) October 16, 2023
The organisation said its core grant funding from the UK government has been awarded to a programme run by Barclays Bank and it claimed its activities were “not viable on a standalone basis”. As a result of which, it was on the lookout for an interested party to acquire its assets.
This is when Tech Nation was acquired by the Founders Forum Group, which is owned by British entrepreneur and investor Brent Hoberman, who co-founded LastMinute.com in 1998.
HSBC Innovation Banking, previously Silicon Valley Bank UK, is a founding partner for the relaunched Tech Nation programmes and events.
Since being founded, Tech Nation said it has supported more than 5,000 companies to help them scale up. The organisation has also created 48 growth programmes to help accelerate more than 1,200 start-ups.
The not-for-profit has organised various events to help the UK and Northern Irish start-up ecosystem, such as networking conferences, international expansion programmes and its Rising Stars competition.
“The leading platform for tech insights, connections, collaboration and talent returns today, supporting ambitious founders and their teams with the access and knowledge they need to grow from seed stage to success story,” Tech Nation wrote in a LinkedIn post.
“We are returning with a bold pledge to facilitate £10bn investment into the tech ecosystem and a commitment to ensuring half of Tech Nation’s UK start-up network is based outside the capital.”
The start-up network also announced that it will launch a community called Creo for disabled founders as well as those building technologies for the disabled community. The programme has been created in partnership with Motability Operations.
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