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The UK Government have announced two initiatives to support tech start-ups during this difficult time. The Future Fund has been announced with an overall pot of £500M, alongside a range of other additional loans and grants via Innovate UK, which has an additional pot of £750M. These are designed to support businesses that have the potential for high growth and as a research and development (R&D) intensive for small and medium-size organisations within the UK. These two sources make up the headline figure of £1.25Bn of investment opportunities for innovative tech star-ups in the UK.
The Future Fund is an investment programme to ensure innovative high-growth businesses get the financial support they need to survive the economic challenges posed by the coronavirus outbreak. Launching at the beginning of May, The Future Fund will provide investments (structured as convertible loans*) between £125K-£5M to UK based start-ups, which will be matched by private investors. The Government is also pledging £750M through loans and grants via Innovate UK.
If you feel your business, or a business you know could benefit from these unique opportunities to turbocharge their development and growth, you can see the webinar on the 30th April, and it is free and simple to register for this by clicking this link and registering: https://bit.ly/FutureFundInnovateUK
If you are unable to make this date or want to learn more before or after the webinar, then please read more by clicking here, or watch a recorded panel session with Barclays about this by clicking here. To fully understand the schemes you can read the loan framework detail click here.
If you prefer to speak to someone, please feel free to contact our High Growth Manager at the New Anglia Growth Hub, Dr Morgan Potter (email@example.com) who will be happy to help you understand more about these funds, loans and grants from Innovate UK.
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