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GovTech, the sector that puts new technologies at the service of government, is attracting growing interest from investors. That’s what the latest round of funding by Claimer, a British specialist in the sector, shows. This start-up intends to take advantage of its new investments to shed light on its avant-garde offer.
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Facts
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- Claimer has just raised $4.2 million from Project A Ventures, with the participation of Moonfire Ventures, helloworld.vc and a group of business angels.
- GovTech supports a service that can reinvent access to financial incentives and government assistance (tax credits, grants, or other local tax breaks). It is this service that is now attracting interest from investors.
- Claimer helps innovative companies and start-ups access UK R&D tax credits and grants more easily and quickly (in about 10 minutes).
- It relies on a solid technological platform and human expertise to ensure its service.
- Claimer charges a 5% fee (capped at £10,000) applied to the funds recovered by its clients through its service.
- Claimer says it has already helped 350 startups access these grants since it began operations. The company has also successfully filed more than 700 claims for its clients and is aiming for a 4-fold annual growth by the end of 2022. To achieve this, it intends to conquer a new market, after the UK.
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Issues
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- Simplifying administrative procedures: GovTech Claimer helps its counterparts access funding to which they are entitled but which is compromised by complex and time-consuming procedures or by a lack of information about eligibility criteria, for example.
- On the GovTech opportunity: Claimer’s new round of funding underscores the potential of technology initiatives for governments. The GovTech market indeed represents a strong potential, as it is expected to reach €20 billion in France by 2024 and £20 billion in the UK by 2025, according to figures put forward in 2018 at the GovTech Summit.
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Perspective
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- Like FinTech at the time for the financial sector, GovTech has been touted by some observers and players as the future of the public sector. The truth is, as always, nuanced.
- In 2019, the Great National Debate revealed that 74% of the French people surveyed expressed digital needs above all to access certain public services. A digital transformation is indeed necessary to meet new needs and uses and to adapt to the new tools available to citizens.
- But the agility of start-ups should not hide the challenges, especially in terms of security, of a sector as formal as government services.
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