UK tech industry gets £21m boost from the government

UK Parliament LondonThe UK government has committed an extra £21m in funding to Tech City UK in a move that has seen the tech organisation combine with its Northern England counterpart Tech North to form Tech Nation. The additional will be provided over the next four years.

Tech City UK and Tech North were both created to develop the UK’s tech industry by helping digital tech startups to grow through programmes, research and events.

Tech City UK was setup to represent the tech sector in East London, while Tech North was setup with an eye on the northern tech tech hotspots. In combining into Tech Nation, the organisation will look to develop the UK’s tech sector as a whole, as opposed to looking at specific hubs.

With the additional funding, Tech Nation will first look to add more tech clusters to its existing ones in East London, the North West, Yorkshire, and the North East. The first set of tech clusters will be located in Birmingham, Edinburgh, Glasgow, Belfast, Cardiff, and the entirety of London. Tech City UK says more clusters will be announced during the Budget on 22 November.

“We are thrilled that the UK Government is backing the development of digital entrepreneurship and the tech sector across the UK,” said Gerard Grech, current CEO of Tech City UK and soon-to-be CEO of Tech Nation. “Tech Nation will help transform London and the UK from a series of standalone tech hubs into a powerful national network that will place the UK firmly at the top of global tech rankings. This will ensure that conditions for tech talent and international investment become even more attractive at this crucial point in the UK’s history.”

In addition to the increased investment, the government has also increased the number of ‘exceptional talent’ visas available to workers from around the world seeking employment in UK. The Home Office doubled the number of visas that can be obtained from 1,000 to 2,000. This doesn’t mean the that Tech Nation will get all 2,000, but that after the first 1,000 visas, there will be no limit on which sectors can receive more. The additional 1,000 visas will be allocated dependent on which sector needs them the most.

“Our digital tech sector is one of the UKs fastest-growing industries, and is supporting talent, boosting productivity, and creating hundreds of thousands of good, high-skilled jobs up and down the country,” said UK Prime Minister Theresa May in a statement. “It is absolutely right that this dynamic sector, which makes such an immense contribution to our economic life and to our society, has the full backing of Government.

“Helping our world-class entrepreneurs and innovators to succeed is how we lay the foundations for our prosperity and build an economy fit for the future. Technology is at the heart of our modern Industrial Strategy, and we will continue to invest in the best new innovations and ideas, in the brightest and best talent, and in revolutionary digital infrastructure. And as we prepare to leave the European Union, I am clear that Britain will remain open for business. That means Government doing all it can to secure a strong future for our thriving tech sector and ensure people in all corners of our nation share in the benefits of its success.”

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