London Stock Exchange gives nod to Tech Nation ahead of closure
The London Stock Exchange has held an event to “celebrate” the impact of entrepreneur network Tech Nation ahead of its wind-down later this month after more than a decade supporting startups across the UK.
The British public market yesterday welcomed the Tech Nation team to highlight the companies that have passed through its Future Fifty programme. Food delivery app Deliveroo and cybersecurity company Darktrace both participated in the programme and have gone on to publicly list on the London Stock Exchange.
Future Fifty is a programme run by Tech Nation that provides support and networking opportunities to late-stage tech startups in the UK. The most recent cohort included autonomous vehicle software firm Wayve, data analytics-driven grocery delivery company Modern Milkman, and digital ID startup Yoti, among others.
“Tech Nation’s growth programmes… have helped shape the trajectory and success of UK tech; the number one digital economy in Europe and number three globally,” said the London Stock Exchange.
Tech Nation will cease operations at the end of March after the government awarded the £12.09m Digital Growth Grant, which made up the bulk of Tech Nation’s funding, to Barclays Eagle Labs.
The loss of Tech Nation has created a lot of questions about the future of the group’s programme and staff. UKTN revealed last week that Barclays would not be taking on any Tech Nation employees under TUPE rules after talks broke down.
The future status of other notable Tech Nation projects, including the Global Talent Visa – a programme to allow digitally skilled people from other countries to live and work in the UK – remains unknown.