Tech Nation, the UK government-backed organization that supports the country's tech ecosystem, has been acquired by Founders Group (FF Group), a London-based network of entrepreneurs, accelerators, and investment firms.
Tech Nation had been overseeing Global Talent visa applications as the endorsing body, but lost its bid for government funding to Barclays Eagle Labs, leading to the shutdown of its operations.
The company is currently working with the UK Home Office to find a new endorsing body for the visa but will continue offering the service in the meantime.
As part of the acquisition, FF Group plans to relaunch a number of Tech Nation's programmes and reports on the UK tech sector as part of its existing portfolio of events and services tailored to entrepreneurs.
With a third of the UK's tech unicorns passing through at least one of Tech Nation's growth programs, the acquisition is expected to strengthen FF Group's commitment to supporting tech entrepreneurs and startups in the UK.
Founded in 2005 by Brent Hoberman, FF Group comprises Founders Forum, Founders Factory, and Firstminute Capital. Hoberman stated that the acquisition of Tech Nation is well-positioned to continue the organization's mission, of nurturing tech entrepreneurs, fueling the growth of startups, and fostering innovation within the UK tech ecosystem.