UK’s £375m Future Fund Breakthrough Scheme for Startups to Advance the Tech Sector
In a move to reach the goal to make the UK a “science superpower”, the future fund breakthrough scheme will be available to fast-growing firms who provide innovative technology in areas such as clean energy and life sciences, that can help to spur breakthroughs that can solve our society’s greatest challenges.
Do I Qualify?
So, the all-important question...how do I qualify?! The first thing to know is that you can’t apply for your own business, but your lead investor will need to connect to the future fund.
There are a few factors that go into this scheme, let’s go through them.
- Firms need to be based in the UK.
- Firms must be seeking at least £30m investment to help fund further development.
- The investment will have to be comprised mainly of private companies, with applicants needing evidence of secured commitments for 70% of their funding round.
- Firms must have evidence of previous success in raising £5m without state assistance, to show they are already growing significantly.
A Tech conference will be held in east London this September, to bring together investors and business leaders in tech and promote this scheme - called “Treasury Connect”.
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