Government funding for tech start-ups has launched as a grant competition to boost the UK tech industry
Digital Growth Grant for UK Tech Firms
Digital Growth have launched a £12.09 million tech start-up government funding grant in order to boost the UK’s tech industry. The contract’s length will be from 2023 to 2025.
The aim of the grant is for the winning provider to help accelerate the UK’s tech industry. They will be providing support to tech start-ups and helping firms scale-up. They will identify market failures and then implement support and training to help overcome them.
This year, the UK’s tech sector became the third to be globally valued at £1 trillion. Therefore, ensuring that technology firms in the UK strive and continue to grow is vital.
This tech start-up government grant will help small businesses grow and scale-up. They will be provided with support services, and skills training. The funding will be available to any technology companies within the UK. This is so that this grant funding can be available across the nation and can provide a boost to local regions. With this start-up government grant, many jobs will be created, and it will also generate wealth for the UK.
Key Responsibilities of the Successful Bidder
The successful winner of the grant will play a vital role in accelerating the UK tech industry further. This will include:
- Delivering support services to the digital sector, helping emerging technologies and helping them grow.
- Growing regional support networks, identifying improvements, providing investments, skills training, and business growth support. These will be tailored to fit the needs of individual tech firms.
- Ensure UK tech firms have access to digital entrepreneurship and investment readiness training. The winning provider will also need to identify new roles that tech companies have available. They will then be required to help them gain the relevant skills needed for the roles. There is also the responsibility of connecting companies with DCMS’ (Digital Department of Culture, Media, and Sport). DCMS’s local digital skills partnership will help provide skills training.
- Finally, they will aid in promoting and raising awareness for the UK’s tech sectors, to help inspire the next generation.
This is just a highlight of what will be involved with this brand-new tech start-up government grant. More specifications will be issued in due course.
The grant competition will be running this Summer. The contract will begin on the 1st of April 2023 until 2025. The timeline of the grant application and winning bid is as follows;
June 2022 – Applications open
August 2022 – Applications close
September 2022 – Successful bidder will be notified
April 2023 – Grant funding begins
April 2025 – Funding ends.
We would recommend preparing for the grant application now. No doubt there will be an influx of applications. Be proactive and start doing what you can in order to win the funding.
Need Help with your Grant Application?
Our Grant Writing service is for businesses who want to start applying for grants, but don’t know where to begin. They can also help businesses who have been applying for grants but aren’t seeing success.
Our Grant Writing Consultants have over 60 years of experience in bidding for funding and grants. From start-up business grants to self-employed business grants. They can take care of the whole thing for you – they’ll even submit it on your behalf.
Get in touch to find out how we can help your business grow!
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