Tech Nation, the UK government-funded tech startup ecosystem builder which has significantly transformed the UK tech sector in over a decade, has announced that it will cease operations on March 31, following the termination of its core government grant funding.
The non-profit has helped shape the trajectory and success of UK tech, ranked number one in Europe and number three globally, and valued at $1 trillion (growing 16x in last 10 years), employing 5 million people (from 2 million 10 years ago) across the country, with over 20 places in the UK home to one tech unicorn or more (growing 5x in 10 years).
While 80% of startups fail within their first 2-5 years, over 95% of startups on Tech Nation’s accelerator programs have gone on to scale. More than a third of all tech unicorns and decacorns created in the UK have graduated from a Tech Nation programme, collectively raising over £28 billion so far in venture capital and capital markets.
Tech Nation's alumni include Monzo and Revolut, UK's biggest fintechs, Depop, Bloom & Wild, Zilch, Just Eat, Darktrace, Marshmallow, Ocado, Skyscanner, Peak AI and Deliveroo, to name just a few of the 5,000+ businesses it has supported in the past decade.
As the official endorsing body for the Digital Technology route of the UK government's Global Talent Visa, which enables tech talent to work in the country's digital technology sector, Tech Nation has processed over 4,200 applications from 90 countries (as of June 2022) since it replaced the Tier 1 (Exceptional Talent) visa in 2014.
Tech Nation in numbers
UK Tech growth over the past decade
Tech Nation impact since inception in 2014
Tech Nation delivery since inception
$1trn valued UK tech ecosystem ($60Bn in 2013; 16x in 10 years)
4.8m jobs (2.33m in 2013; x2 in 10 years)
135 tech unicorns (13 in 2013)
20 cities with a tech unicorn (4 in 2013)
£600m of Gross Value Add contributed to the UK economy since 2014
£15 return on every £1 invested in Tech Nation by the UK Government
95% of start-ups on Tech Nation’s accelerator growth programs have gone on to scale
More than a third of all tech unicorns and decacorns created in the UK have graduated from a Tech Nation growth program
£28bn raised by Tech Nation alumni
13 IPOs from Tech Nation alumni companies
+46% acceleration in turnover in companies supported by Tech Nation within 2 years
+18% acceleration in employment in companies supported by Tech Nation within 2 years
13,000 jobs created by Tech Nation alumni nationwide as a direct result of our intervention
5,000+ companies supported
1,250+ companies from across the country accelerated through 48 growth programs
64,000+ individuals through our online academy
6000+ Global Talent Visa applications processed, and 3000+ visas endorsed
700+ events to connect and inform the ecosystem
80+ research reports, giving an unrivalled, impartial and comprehensive analysis of the UK’s digital economy
3,200 leaders of UK scaling tech companies are members of Tech Nation’s Growth Platform network