Share this content
The Chancellor Rishi Sunak appears on the BBC's Marr Show.
flickr_HMTreasury_aweb

Government announces £250m coronavirus Future Fund for tech startups

by

The government has unveiled an initial £250m Future Fund scheme, issuing convertible loans to help startups struggling due to the coronavirus outbreak. The scheme is planned to go live in May.

20th Apr 2020
Share this content

This morning, the government unveiled the Future Fund – a scheme that will issue convertible loans to high-growth tech startups suffering under the current crisis.

Under the new scheme, the government plans to make an initial £250m available in convertible loans, labelled as “bridge funding”, that will be available from May to September 2020. This is part of the £500m pledged investment for high-growth firms, and in addition to another £750m for SME’s focused on R&D, totals £1.25bn government support package announced today.

The government scheme, to be delivered in partnership with the British Business Bank (BBB), comes after pressure from big UK tech startups over being left out of coronavirus lending schemes.

Register for free to continue reading

It’s 100% free and provides unlimited access to the latest accounting news, advice and insight every day. As well as access to this exclusive article, you can:


Content lock down, tick icon

View all AccountingWEB content


Content lock down, tick icon

Comment on articles


Content lock down, tick icon

Watch our digital shows and more

Access content now

Already have an account?

Replies (1)

Please login or register to join the discussion.

Alastair Barlow
By Alastair Barlow
23rd Apr 2020 19:39

My understanding is any matching investor wouldn't be able to claim EIS under this scheme as it's a convertible loan rather than equity or ASA...

Thanks (0)