UK pulls plug on top tech incubator after setting out to become 'world’s next Silicon Valley'
Publishing timestamp: 2023-01-31 11:05:01
Summary
Tech Nation, a U.K. startup accelerator program, is set to close its doors after failing to renew its funding from the government. The government diverted the grant funding for the program to the startup incubation arm of Barclays Bank, raising questions over the U.K.'s ambitions to become "the world's next Silicon Valley." The move has caused concern in the tech sector, which is already reeling from a global slump in venture capital funding.
Sentiment: NEGATIVE
Tickers: TKWY-NL, OCDO-GB, DARK-GB, ROO-GB,
Keywords: technology, just eat takeaway.com nv, internet, venture capital, ocado group plc, deliveroo plc, economy, business news, darktrace plc,