Barclays’ contract win from Tech Nation
Recently, Tech Nation entrepreneur network lost its government contract to Barclays. The bank received a £12 million government mandate to aid early start-ups in their development. Although the existing government funding runs till March 2023, the direction where Tech Nation will be going afterward is a rising concern. Since its launch in 2011, the network relied on government funds and received small sums of private investment, however, government officials had concerns about Tech Nation because it failed to become self-sufficient, therefore breaching state aid rules. The Department for Digital, Culture, Media and Sport (DCMS) assured that no final decision have been made, however, there have already been some negative responses to this news.
What That means for the Global Talent application?
At the moment we can reassure you that no final decisions have been made. Therefore it should not rapidly dramatically change the application for endorsement. We will be monitoring for any changes in that area.
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