UK Government Future Fund for Innovation Companies
Client Updates
On Monday 20 April, the UK Government announced a stimulus measure (the “Future Fund”) aimed at supporting UK start-ups which will provide convertible loans of between £125,000 to £5,000,000 to eligible UK start-ups.
The announcement of the Future Fund is welcome support for the UK’s start-up sector and will be of valuable assistance to some businesses which are being adversely affected by COVID-19. However, the terms (as currently published) are weighted in the Government’s favour and therefore start-ups should consider all their options (in conjunction with their advisors) prior to accepting finance from the Future Fund.
The headline terms of the Future Fund, as well as points to note, are outlined below. Further details are available here.
To view the full article please click here.
The announcement of the Future Fund is welcome support for the UK’s start-up sector and will be of valuable assistance to some businesses which are being adversely affected by COVID-19. However, the terms (as currently published) are weighted in the Government’s favour and therefore start-ups should consider all their options (in conjunction with their advisors) prior to accepting finance from the Future Fund.
The headline terms of the Future Fund, as well as points to note, are outlined below. Further details are available here.
To view the full article please click here.
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