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<p>We are confident the digital technology sector and its start-up community will
continue to grow from strength to strength. As outlined in our Digital Strategy and
Charter, our ambition is to ensure the UK is the best place in the world to start
and grow a digital business.</p><p> </p><p>A significant part of achieving this is
ensuring the wider ecosystem has the correct infrastructure for businesses to thrive.
That is why the Industrial Strategy included commitments to boost spending on 5G digital
connectivity right across the UK, raising investment in research and development,
and improving skills by investing in maths, digital and technical education. DCMS’
Cyber Security team also supports and delivers programmes that accelerate and innovate
cyber start-ups, including the NCSC Cyber Accelerator programme, and through the LORCA
project - a vital step to ensure citizens and businesses can continue to operate safely
online, whilst supporting UK entrepreneurs.</p><p> </p><p>We know primary barriers
to growth for start-ups are having adequate access to both finance and talent. That
is why for finance, Government announced a new £2.5 billion British Patient Capital
programme. This is expected to attract a further £5 billion in private investment,
to support UK companies with high growth potential to access the long-term investment
they need to grow and go global. In addition, if in the event that the Government
cannot agree on a future relationship with the European Investment Bank prior to EU
Exit, we will provide the British Business Bank with £200m of additional funding in
venture capital and growth finance. This will provide start-ups across the country
with the initial capital they need to start their business.</p><p> </p><p>To continue
to attract international talent, we have doubled the number of Tier 1 Exceptional
Talent visas to 2,000. Doctors and nurses have been taken out of the Tier 2 visa cap,
freeing up many more skilled worker visas to other sectors, including tech. 2019 will
also see the launch of a new Start-Up visa for entrepreneurs, which will replace a
route exclusively for graduates, opening it up to other talented business founders.</p><p>
</p><p>In the Autumn Budget 2017 we announced investment of £21 million to expand
Tech City UK into a nationwide network – Tech Nation – aimed at accelerating the growth
of the digital tech sector across the country. The funding will help Tech Nation support
40,000 entrepreneurs and up to 4,000 start-ups as they scale their businesses across
the UK including Belfast, Cardiff, Edinburgh, and Newcastle.</p>
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