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THE government plans to dip further into a £20m fund set up to help Island businesses develop digital solutions that benefit Jersey – but that money will be repaid. The proposed 2026 Budget, which States Members will debate next month, proposes taking £3.4m out the Technology Accelerator Fund, which was set up in 2022 from a £40m windfall it received after taxpayer-owned JT sold off part of its business. In 2023, the last government decided to transfer money from the fund in 2024 into its ‘current’ account to “fund investment in the Government Digital Services Platform”. In 2024, £2.2m was transferred over, followed by £1.3m this year. Next year, £3.4m is proposed to be transferred, and £1.4m next year, making a total of £8.3m. The balance of the TAF is currently £11.4m, with Digital Jersey – who has responsibility over the Impact Jersey programme which awards the funding grants – having spent more than £9m, including an expected £2.3m next year. Economic Development Minister Kirsten Morel has said that any money taken from the fund by the government will be repaid. He said: “All we have done is reprofile the spend of the fund. The Technology Accelerator Fund itself only approves about £2m per year, so it makes no sense to have more than that allocated in any budget because that stops money being available to other budgets.” Digital Jersey chief executive Tony Moretta said: “It is our understanding from the government that the Technology Accelerator Fund remains a £20m fund as approved by the States Assembly, and, when required, the £8.3m will be repaid back into the fund.” The money used by Digital Jersey has paid for a programme called Impact Jersey. Its first ‘Open Programme’ funded six projects up to £75,000 each. These included technology to data collecting sensors to help Andium and its tenants reduce their carbon footprint, and an AI-powered risk and insurance management platform for Jersey’s fiduciary services sector. Other programmes have focused on customer service-focused technology, and the care sector.
