Tech Nation, a UK-based entrepreneur support network, has undergone a major transformation following its acquisition by the Founders Forum Group (FF Group), a London-based network of entrepreneurs, accelerators, and investment firms.
Dubbed "Tech Nation 2.0," this reimagined initiative sets an audacious goal: to help startups within its cohorts secure a combined £10 billion in funding over the next five years.
According to Founders Forum Group CEO Carolyn Dawson who will now spearhead the program, Tech Nation 2.0 will boost startups’ international reach and “fuel the investment that will create the next generation of unicorns”.
This relaunch is aimed at expanding the geographical reach of Tech Nation's support network and seeks to ensure that at least half of its startup network is situated outside of London, a move designed to promote inclusivity and regional growth.
The newly launched Tech Nation has also assumed control of the Global Talent Visa endorsement scheme until “at least” the end of 2024, ensuring continuity to the future of the popular visa scheme.
It will also carry over four of its predecessor’s growth programmes including Libra, a programme for ethnic minority founders; Rising Stars, a competition for early-stage startups; The Climate Programme, an initiative for climate tech companies; and Future Fifty, a programme for late-stage businesses.
Furthermore, Tech Nation is introducing a community for disabled founders and those developing technologies for disabled individuals, emphasizing inclusivity and innovation.
It is notable to mention that Tech Nation has shifted from receiving public funding and has secured commercial sponsors. HSBC Innovation Banking, formerly known as Silicon Valley Bank, is the founding partner of Tech Nation. Recall that Tech Nation closed operations in March after losing a bid for a £12 million government grant – its primary source of income – to Barclays Eagle Labs.
Founded in 2006, FF Group's investment vehicle, Founders Factory, has supported over 300 startups globally, including 41 African startups.
This synergy between Founders Forum Group and Tech Nation will help to drive a shared mission to foster startups and entrepreneurs through various initiatives, events, and partnerships in the UK and beyond.