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Tech Nation startup impact exceeded grant cost, report finds

Tech Nation DSIT
Image credit: Tech Nation

The startup growth programmes run by Tech Nation generated a greater impact value than their public grant funding, according to government-commissioned research.

An evaluation of the efficacy of funding granted to Tech Nation during its final three years, conducted by consultancy firm Frontier Economics, found the organisation’s growth programmes generated £44m in economic impact.

During that time it received a cumulative £17.5m in public funding. The impact figures are based on the contribution to UK gross value added (GVA) from increased employment at startups participating in growth programmes.

The report noted that a £34m impact came from the first two years of the timeframe and an additional £10m came from the third.

It acknowledged that additional benefits would likely be realised after the publication of the report, which means the total financial impact is likely to be higher than £44m....