Tech Nation: Expenditure
(asked on 18th January 2021) - View Source
Question to the Department for Digital, Culture, Media & Sport:
To ask the Secretary of State for Digital, Culture, Media and Sport, how much Government funding has been allocated to Tech Nation in each of the last five years.
The total DCMS grant allocation for the last five financial years was:
Financial Year | Total Grant |
2016/17 | £4,236,000 |
2017/18 | £4,335,333 |
2018/19 | £5,709,605 |
2019/20 | £6,963,725 |
2020/21 | £7,553,429 |
In addition MOJ have allocated a £2m grant to Tech Nation from October 2019 to March 2022.
Tech Nation delivered a total of £158 million of Gross Value Added (GVA) in financial years 2018/19 and 2019/20 combined and expects to deliver over £200 million (approx. £248 million) by the end of the 2020/21 financial year. This represents a return on investment of over 10x.