"The more we innovate, the more we can grow our economy, create the high-paid jobs of the future, protect our security and improve lives across the country," said Prime Minister Rishi Sunak in March, as the government unveiled its science and technology plan. The idea was to turn Britain into a tech "superpower" - and came after Sunak reorganised his government to focus on tech, with the creation of a Department of Science, Innovation and Technology (DSIT).
So, it's strange that 31 March 2023 marked the final day of operation for Tech Nation, a non-profit founded in 2010 that had been tasked with helping Britain's most exciting tech firms scale up their businesses. Funded with a £12m grant from the government, it counted British tech "unicorns" Monzo and Deliveroo among the firms it has helped over the years, with both now valued at over a billion dollars.
But in January, the government announced that Tech Nation wouldn't be getting the latest iteration of the Digital Growth Grant, and that it was instead being awarded to the Eagle Labs division of Barclays Bank.
Given Tech Nation's apparent success over the years, it was a surprising decision, and one that could have significant consequences for Britain's tech scene.
The Tech Nation connection
To explain exactly what Tech Nation did, you must first understand the unique way that tech startups tend to grow. Instead of a business selling products and using the profits to invest in the business, most tech entrepreneurs seek seed funding to get the business off the ground, and then raise increasingly larger amounts of cash in further rounds of investment, known in the industry as “Series A”, then “Series B” and so on. The idea, which emerged out of Silicon Valley in the 1970s, is to grow fast.
This story is from the July 2023 edition of PC Pro.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 2023 edition of PC Pro.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Robobutlers may never happen, but robot care workers are on their way
Do you hate loading the dishwasher enough to pay someone to do it remotely? Nicole Kobie wonders about the weird future of home robots
Technical debt
Cutting corners now means more work down the road - but Steve Cassidy asks whether that's always a bad thing
Zyxel ZyWALL ATP500
Zyxel delivers tough gateway security and advanced threat protection at a very appealing price
CREATIVE WORKSTATIONS
Intel and AMD both offer compelling CPU choices for workstations, giving us ten machines with the widest variety of specifications we've seen for years
ANDROID PHONES FROM £219
As this roundup of four affordable contenders shows, there's no need to spend a fortune on a phone
Amazon Echo Pop
If you want a compact Alexa smart speaker, the Pop is now the cheapest choice - but what does it really add?
Getac X600
A powerful alternative to the Panasonic Toughbook 40, with the bonus of optional Nvidia graphics
Amazon Fire Max 11
With its 2K screen and sleek design, this is Amazon's best tablet yet-but FireOS remains a hindrance
Google Pixel Fold
The Pixel Fold delivers with a thin and durable design, a wide front display, smart software and great cameras
Welcome to the Fediverse
Have commercial social networks had their day? Darien Graham-Smith looks at the free, community-run apps that could usurp Twitter, Reddit and the Meta empire