More start-ups and innovative firms will be able to apply for investment from the government’s Future Fund from 30 June:
• companies which have participated in accelerator programmes now eligible for the popular scheme;
• more than 320 early-stage, high-growth firms have so far benefitted from £320 million of support through the Fund;
• this surpasses the £250 million initial funding made available by the government.
Changes to the scheme’s eligibility criteria will mean that UK companies who have participated in highly selective accelerator programmes and were required, as part of that programme, to have parent companies outside of the UK will now be able to apply for investment.
To date, more than 320 companies have benefitted from £320 million of Future Fund support. Under the scheme, early-stage, high-growth businesses from a diverse range of sectors can apply for a convertible loan of between £125,000 and £5 million to help them through the Coronavirus outbreak.
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