The Future Fund: Breakthrough scheme, which is replacing the closed (to new applications) Future Fund scheme, will open in the UK around the start of summer.<\/p>\n
<\/p>\n
According to recent figures, the Future Fund presented more than \u00a31.1 billion in adaptable loans to over 1,140 applicants.<\/p>\n
This new scheme will cost \u00a3375 million and strives to support private investment in high-growth innovative firms in response to the coronavirus pandemic.<\/p>\n
The UK\u2019s state-owned economic development bank, the British Business Bank (BBB), revealed that the scheme aims to help private investors co-invest in Research and Development (R&D) businesses. The other investor being the UK Government.<\/p>\n
Companies must be seeking a minimum of \u00a320 million investment. These businesses are either pre-revenue or pre-profit, which is why they are usually unable to access other Government-backed loans, such as the Bounce Bank Loan Scheme (BBLS) and the Coronavirus Business Interruption Loan Scheme (CBILS).<\/p>\n
A spokesperson for the BBB states that this new scheme aims to \u201caccelerate the deployment of breakthrough technologies which can transform major industries.<\/p>\n
\u201cDue to high research and development costs, breakthrough technology companies typically require more capital than other technology companies to fuel the later stages of their growth.<\/p>\n
\u201cFuture Fund: Breakthrough will crowd in private sector investment to support the growth of the companies.\u201d<\/p>\n
To find out more about this scheme, contact our experts today.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" The Future Fund: Breakthrough scheme, which is replacing the closed (to new applications) Future Fund scheme, will open in the UK around the start of summer.<\/p>\n","protected":false},"author":2,"featured_media":4005,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,30,85],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4003"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=4003"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4003\/revisions"}],"predecessor-version":[{"id":4004,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4003\/revisions\/4004"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media\/4005"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=4003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=4003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=4003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}