Entrepreneurial network Founders Forum Group has acquired Tech Nation, rescuing the quango from oblivion after a decade of championing UK startups.
Tech Nation has been a powerhouse over the last decade, supporting startups such as Monzo and Revolut to scale their businesses. The organisation announced its plans to cease operations after losing a £12.09 million Digital Growth Grant to Barclays Bank, citing that it could not continue without government funding.
Co-founded by Brent Hoberman, Jonathan Goodwin and Henry Lane Fox, FF Group says it will relaunch a number of Tech Nation programmes and reports on the UK tech sector as part of its existing portfolio of events and services.
Tech Nation, under the FF Group umbrella, will also continue to process the Global Talent Visa for the Home Office until a new endorsing body can be found to take over the operation.
Carolyn Dawson FF Group CEO, says: “We’re delighted to be carrying the Tech Nation brand forward and building on the remarkable decade of growth which has resulted in the UK now being third in the world for tech investment. Programmes like Future Fifty, Net Zero, and Rising Stars align succinctly with many of our existing initiatives at Founders Forum Group, as well as our overarching mission to bolster entrepreneurial innovation and support founders at every stage.”
Thought Machine founder and CEO, Paul Taylor, comments: “This acquisition is great news for the nation’s technology industry. Founders Forum Group, under the stewardship of Carolyn and Brent, has created a winning formula for supporting entrepreneurs at all stages. Tech Nation has been a pivotal partner for the UK tech industry, and we look forward to seeing its legacy live on under the FF Group brand.”