Tech Nation Relaunches with Ambitious £10bn Startup Funding Goal

By Anushka Malhotra

1 minute

Investment

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Quick Read: Tech Nation relaunched under new leadership, targeting £10bn in startup funding over 5 years. Carolyn Dawson, CEO of Founders Forum Group, heads this reimagined initiative alongside Brent Hoberman. The revamped Tech Nation aims to support startups globally, fostering the next unicorn companies. Their focus includes expanding beyond London and securing commercial sponsorships like HSBC Innovation Banking for ecosystem growth.

Tech Nation Relaunches with Ambitious £10bn Startup Funding Goal

Tech Nation, a prominent entrepreneurial support network, has made a significant comeback, unveiling a bold mission to assist startups in securing a collective £10bn in funding over the next five years.

Photo: Carolyn Dawson OBE, CEO Founders Forum relaunches Tech Nation at Birmingham Tech Week. Photo Courtesy: Edwin Ladd

Following a temporary closure due to a missed government grant opportunity, the Founders Forum Group took over the reins in April, marking the birth of 'Tech Nation 2.0.' Led by CEO Carolyn Dawson and Brent Hoberman of Firstminute Capital, this revamped initiative aims to elevate startups globally, responding to evolving founder needs, fostering international expansion, and nurturing the next unicorn ventures.

Photo: Ian Stuart, CEO HSBC UK, Carolyn Dawson OBE, CEO Founders Forum, Erin Platts, CEO HSBC Innovation Banking, Roland Emmans, Head of Technology Sector & Growth Lending, HSBC UK, and . Photo Courtesy: Edwin Ladd

One of the key objectives is to ensure half of its startup network thrives outside London, aligning with efforts to expand beyond the capital. The reinvigorated Tech Nation will also continue endorsing the Global Talent Visa until at least 2024, offering vital support to talent beyond borders.

Now operating without public funding, Tech Nation has partnered with HSBC Innovation Banking as its inaugural sponsor. Erin Platts, CEO of HSBC Innovation Banking UK, expressed excitement about propelling the UK's innovation ecosystem to new heights.

The relaunch signals a fresh start for Tech Nation, committed to empowering startups and propelling the UK as a global innovation leader.

Sources:

Bignell, F. (2023) From the ashes of Tech Nation, rises tech nation 2.0 for UK smes, The Fintech Times. Available at: https://thefintechtimes.com/from-the-ashes-rises-tech-nation-2-0-for-uk-smes/.

Murden, T. (2023) Tech nation relaunches with £10 Billion pledge, Daily Business. Available at: https://dailybusinessgroup.co.uk/2023/10/tech-nation-relaunches-with-10-billion-pledge/.

Scammell, R. (2023) Relaunched tech nation sets £10bn startup funding target, UKTN | UK tech news. Available at: https://www.uktech.news/growth-strategy/tech-nation-relaunch-funding-target-20231017.

What's new

School of Coding Secures Investment to Launch UK’s First AI Learning Lab in Birmingham

A fast-growing West Midlands digital training firm has secured a six-figure investment to launch what it claims will be the UK’s first AI Learning Lab, supporting regional upskilling and job creation.

The School of Coding, founded in Wolverhampton, has received backing from the Midlands Engine Investment Fund II (MEIF II), via fund manager Frontier Development Capital (FDC). The funding will be used to fit out its new central Birmingham tech hub, expected to create 50 new jobs within the next year.

Founded in 2017, the company delivers digital skills education to both young people and professionals, offering courses in cybersecurity, software development, AI, health tech, and digital entrepreneurship. It also runs nationwide coding classes for children and works with schools, councils, and education providers.

The new lab will act as a centre for innovation and learning, equipping individuals and businesses with practical skills to adopt AI technologies responsibly and effectively.

Photo Credit: School of Coding

Manny Athwal, founder and CEO of School of Coding, said:

“AI is here to stay, and we want to help people use it ethically and productively. This new hub in Birmingham will democratise access to digital education and support both personal and business growth in the tech economy. We see this as the first of many tech hubs across the UK.”

The company now operates in 17 countries, with offices in Telford, Dublin, and India, employing nearly 300 people worldwide, including 95 in the UK.

This latest investment builds on a previous round from MEIF in 2023, reinforcing the British Business Bank’s commitment to supporting scale-up businesses in tech and innovation.

David Tindall, Senior Investment Manager at the British Business Bank, said:

“We’re proud to support a business that's actively addressing the digital skills gap and championing innovation. This second round of funding demonstrates MEIF II’s mission to back high-growth firms driving change.”

Ryan Cartwright, of Frontier Development Capital, added:

“Manny and his team are creating real impact through digital education. We’re excited to support the UK’s first AI Learning Lab – a step that will help more regional businesses benefit from emerging technologies.”

By Anushka Malhotra

23 Apr

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