Executive Director Policy Director Head of Economic Policy Head of Talent and Skills Policy Founder Research Director Senior Researcher TECH STARTUP MANIFESTO 2022 The Coalition for a Digital Economy (Coadec) is an independent advocacygroup that serves as the policy voice for Britain’s technology-led startupsand scale ups. Coadec was founded in 2010 by Mike Butcher, Editor-at-Large of technologynews publisher TechCrunch, and Jeff Lynn, Executive Chairman andCo-Founder of online investment platform Seedrs. We fight for a policy environment that enables early-stage British techcompanies to grow, scale and compete globally. We have over 2000 startupsin our network and have been instrumental in building proactive coalitionsof businesses and investors on issues that are integral to the health of the UK’s startup ecosystem. Our work has seen many successes, from the establishment of the Future Fund and the expansion of theTier 1 Exceptional Talent Visa, to the delivery of the UK’s Patient Capital Fund. We represent the startup community on the Government’s Digital Economy Council, and the UK on theboard of the international group, Allied for Startups. The Entrepreneurs Network is a think tank for Britain’s most ambitiousentrepreneurs. We support entrepreneurs by: ●Producing cutting-edge research into the best policies to supportentrepreneurship; ●Campaigning for policy changes that will help entrepreneurshipflourish; ●Hosting regular events to bridge the gap between entrepreneurs and policymakers; ●Updating entrepreneurs on how policy changes will impact their business; ●Making the case in the media for entrepreneurs’ contributions to society. We are the Secretariat of the APPG for Entrepreneurship, which was set up to encourage, support andpromote entrepreneurship and to engage with entrepreneurs; and to ensure that Parliament is kept up todate on what is needed to create and sustain the most favourable conditions for entrepreneurship. The Entrepreneurs Network and Coadec teams are extremely grateful to the members of the tech startupcommunity who have contributed towards this report - either in person or via email. This manifesto is foryou and about you. Tech startups have been the British economic success story of the past decade. You can measure this success by the obvious metrics, like our stunning VC investment figures, which arebetter year-on-year, or you can look at the less obvious ones - like the fact that more and more young,ambitious people are being drawn to work in startups or to build their own. But the trend line is clear: the But now, for both the tech ecosystem and the rest of the British economy, there are storm clouds on thehorizon. For the startups, there’s a funding crisis with valuations cut, hiring freezes imposed and investmentdrying up. For the UK as a whole, there’s a macroeconomic crisis, a cost of living crisis and an uncertain The next Prime Minister will have to face up to these challenges. We believe the best way to address thiswill be to tackle them together. By supporting the UK’s great entrepreneurs and startups, the new PrimeMinister wouldn’t just be transforming our tech ecosystem, but our country’s economic prospects too. This means delivering on Government policy that helps the startup ecosystem take the next big step in itsjourney, and committing to smash down the barriers that prevent these companies from thriving. To help a founder anywhere in the UK, from any background, who has the right idea and mindset to attractthe capital they need to build their business. To create a funding environment that allows Britain to move from building £5bn companies to building£50bn companies. To deal with the bureaucracy that prevents firms hiring the best talent possible to grow their businesses. To create a regulatory environment refocused on the core needs of our economy’s most innovative anddynamic players. To turn good intentions from the government into real action on innovation that propels our very bestcompanies onto an even faster growth trajectory. This manifesto sets out some of the ways we believe the next Prime Minister can tackle these loftychallenges. These aren’t exhaustive, but they are critical. Whatever happens to our economy and startup ecosystem in the coming months, there is no going backto a time when the startups our organisations work with are an economic sideshow. British startups can,should, and will be centre stage in any successful British economic strategy in the months, years and The new Prime Minister should, and we hope will, do everything in their power to support them. Executive DirectorThe Coalition for a Digital Economy (Coadec) FounderThe Entrepreneurs Network ●Update the phenomenally successful Enterprise Investment Scheme (EIS), Seed Enterprise InvestmentSchemes (SEIS), and Venture Capital Trusts (VCTs). ●Unleash institutional funds into startups by reforming the pension charge cap.●Streamline and supercharge th