HL: Startup succession: From Tech Nation to Eagle Labs
Tech Nation has ceased its operations, and like that a key player in the UK startup scene has shuttered its doors. But as of today, Barclays Eagle Labs will continue where its predecessor left off, with millions of promised funding in addition to the government’s £12 million digital growth grant hoped to spur investment
While questions around visa commitments have yet to be answered, firms outside of the Southeast could nevertheless be swayed by Barclays Eagle Labs’ nationwide reach and sector expertise.
In this episode, Jane and Rory speak to Ross Kelly, ITPro’s startups & small business specialist and staff writer to reveal the current state of UK startups and the mood following the cessation of Tech Nation’s activities.
Highlights
“So, DCMS stated openly that Eagle Labs' proposition for the digital growth grant fund offered better value for taxpayer money than that currently being provided by Tech Nation. And it seems that they've pinned a lot of their hopes on the infrastructure, the broad footprint that Eagle Labs has based on its involvement with Barclays, a major banking institution in the UK.”
“Well, we spoke to founders in the wake of the Tech Nation closure announcement earlier this month, and a lot of them did seem very concerned. This was obviously rooted in the fact that Tech Nation has, like you said in the beginning, been a cornerstone of the UK tech sector for the best part of a decade now. So there is a degree of concern there.”
“I think we'd be wrong to count Eagle Labs out at this stage. There was obviously a lot of sadness, and a lot of emotion surrounding the Tech Nation closure, but I think they're very well placed to step into their shoes and really build on what they've done over the last 10 years essentially. They're going to create, I think, a more localised framework for regional business support and I think that can only be a good thing.”
Read the full transcript here.
Footnotes
- Don’t count Barclays Eagle Labs out just yet – it can deliver in ways Tech Nation never has
- Barclays Eagle Labs offers 'better value for money' than Tech Nation, DCMS claims
- UK startups dread Tech Nation loss as end of the road nears
- Tech Nation to cease operations as government funding dries up
- UK tech sector could face a ‘unicorn winter’ amid spiralling economic conditions
- The ultimate guide to hiring from overseas to fill specialist tech roles
- Is the Global Talent Visa really helping the UK tech skills crisis?
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