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<p>The digital sector contributed £149bn to the UK economy in 2018, accounting for
7.7% of UK GVA. It supports 1.2 million jobs and around 194,000 businesses of which
almost all are SMEs. Last year venture capital investment in the UK’s tech sector
leapt by 44%, with record growth in many of the key sub-sectors including cyber security
and AI.</p><p>The Department is taking great strides to support this growth. This
year alone we have introduced the UK Gigabit Programme and the Shared Rural Network
programme to develop the country’s broadband infrastructure; introduced a Digital
Markets Taskforce, an Online Harms White Paper response and a Digital Identity Call
for Evidence to ensure people remain safe online; and ran an entirely digital London
Tech Week to show our support for the sector. This event was a resounding success,
with initial figures suggesting 2,500 unique viewers attended each day, with 24,000
registering for the entire event.</p><p>We also deliver support through Tech Nation
and our Digital Trade Network. Tech Nation is the main vehicle used by DCMS to support
scale-ups. They deliver a programme of initiatives to support the UK tech sector,
specifically startups and scale-ups, notably ‘Upscale’, a programme for scale-ups,
aimed at accelerating growth. It comprises workshops, socials, & meetups. Alumni
include Monzo, depop and Mixcloud.</p><p>The Digital Trade Network (DTN) is a joint
DCMS/DIT initiative, announced at London Tech Week 2020. This £8m programme supports
UK tech businesses to internationalise in Asia Pacific, attract capital and talent
to the UK and enhance UK digital economy collaborations internationally.</p><p>Finally,
the government will publish a new Digital Strategy this year to drive growth in the
digital sector and wider economy, and ensure we maximise the benefits of a digital-led
economic recovery. It will set out a path to harnessing new appetite for digital transformation,
accelerating growth, and building a more inclusive, competitive and innovative digital
economy for the future.</p><p> </p>
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