Digital Growth Grant

Introduction

Early in 2022, the value of the UK’s tech sector passed $1 trillion. The UK is only the third country in the world to have a tech sector reach this valuation. The UK has created more unicorns than any other country in Europe. The government is committed to making the UK the best place to found and grow a tech business and securing the UK’s status as a global science and technology superpower.

The Department for Digital, Culture, Media and Sport (DCMS) will run a Digital Growth Grant competition over Summer 2022. Bids will be invited to address identified market failures and accelerate the growth of tech start-up and scale-up ecosystems across the regions and nations of the UK. The successful bidder will be awarded up to £12.09 million to be spent over two financial years 2023/24 and 2024/25.

Further detail on the grant objectives, eligibility and application process will be published in Summer 2022 when the competition opens for applications.

The detailed grant specification is currently being developed in consultation with the market. DCMS is inviting organisations to participate in upcoming webinars as an opportunity to ask questions and to express their views and ideas about the scope of future provision of government-funded support for tech start-ups and scale-ups.

Express your interest to contribute your views and to stay up to date on when the Digital Growth Grant goes live.

If you would like to find out more about this grant and how to engage with the Department as a potential bidder, please get in touch with us at dcmsdigitalgrowthgrant@dcms.gov.uk or register for one of our upcoming webinars.

Objectives

The objectives of the Digital Growth Grant will be based around:

1. Delivering support services to the digital sector, particularly in transformative/emerging technologies. These services should address key challenges faced by a wide range of companies from seed stage to series A/B, their first or second round of financing.

2. Developing the growth of regional support networks for tech start ups and scale ups. Activities should deliver concrete improvements against three or more areas identified in DCMS Regional Ecosystems Report: Investment, Skills, Innovation, Infrastructure and Business Growth/GVA. Interventions should be tailored to local needs and tech specialisms, and developed in partnership with local bodies.

3. Ensure founders and firms can access digital entrepreneurship and investment readiness training, with tailored advice to help develop their skills to start and grow a tech business. Clearly signpost start-ups and scale-ups to the digital skills initiatives in private and the public sector (DCMS’ local digital skills partnerships) and share information on the types of roles available in tech companies, the skills required to access these roles, and direction to low/no cost skills provision to acquire those skills.

4. Promoting and raising awareness of the strength and competitiveness of the UK tech sector with the aim of boosting investor confidence and inspiring the next generation of tech workers and entrepreneurs.

All eligible UK-based organisations will be able to apply. We will also welcome applications from eligible consortia.

Contact

Express your interest to contribute your views and to stay up to date on when the Digital Growth Grant goes live.

If you would like to find out more about this grant and how to engage with the Department as a potential bidder, register for one of our upcoming webinars.

Please contact dcmsdigitalgrowthgrant@dcms.gov.uk if you have any questions.