GovTech is the concept of encouraging small, emerging technology businesses, to bring innovative solutions to public services, that once proven can move to scale both to the advantage of markets and society. GovTech is gaining momentum as it passes from an emergent state and is poised to go global. GovTech benefits from large citizen demand, a permissive policy environment and ready access to tech skills & financial capital.
A new £20 million fund from Government is helping tech firms deliver innovative fixes to public sector challenges. Tech firms bidding to the fund will have free reign to create truly innovative fixes. Those successful will receive funding and once a finalised product is created, the public sector partner can then choose to buy it. Not only will the public body receive an innovative, bespoke solution enabling them to tackle their challenge head on, but their solution may also be able to scale across the wider public sector.