---

Technology: New Businesses

Answer

We are proud that the UK’s start up and scale up tech ecosystem was recently valued at over £1 trillion and that the UK is only the third country in the world to have a tech sector reach this valuation. We are committed to ensuring the benefits and growth of the tech sector are felt in all corners of the country.

We are supporting businesses across the UK through investment. The £12 million Digital Growth Grant will continue to support companies across the UK to access finance and business advice through tailored growth programmes and events. In addition, the £2.6 billion UKSPF fund encourages areas across the UK to consider interventions to support and grow their local tech ecosystems.

Tailored support and localised interventions will be important to successful economic growth across the regions. We published a Regional Tech Ecosystems report, which identified several regions as digital and tech growth hubs across the UK and aims to better understand the drivers of growth at a local level.

Government engagement with the tech community is one of the key levers used to understand the needs of the sector, whilst also promoting the sector's success. Ministers engage frequently with the sector through roundtable discussions and bilaterals to better understand the challenges and opportunities facing growth, such as those conducted whilst developing our Digital Strategy. From a promotional perspective, Ministers often proactively engage with regional tech events, such as Birmingham Tech Week, and utilise the Department’s convening power to highlight the importance of regional investment. The department’s communication strategies further champion the regional ecosystems through promotion of regional success stories to a national and international audience.

Secondary information

Type

Written question

Reference

140188

Session

2022-23

Transferred

Yes

Subjects

New businesses Technology

Link

View this Written question on www.parliament.uk