Friday, September 30, 2022
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UK Government Set Fund of 375-Million Pounds for Technology Companies

Under the Future Fund of United Kingdom, the government has launched a breakthrough scheme in which it has committed 375 million pounds of funding to the fast-growing technology companies in the country, which are mainly looking to raise at least 30 million pounds of the investment.

For being eligible for the funds, the technology companies in United Kingdom should have commitments of 70 percent of the investment from the private investors along with a track record of financing the innovative companies like the venture capitalists.

This scheme is going to span across the world class industries of United Kingdom, which mainly includes clean technology, quantum computing and life sciences, along with the accelerating the deployment of the breakthrough innovation, that can possibly solve some of the greatest challenges of the society, which includes development of the new medicines to the technologies, which can be supporting the transition of United Kingdom to the net zero target of the country.

The scheme has also been a part of the multi-billion-pound investment in the research and development for the purpose of building a future economy, along with the creation of the skilled jobs and also cementing the status of United Kingdom as a scientific superpower.

Rishi Sunak, Chancellor of United Kingdom said, the Future Fund, scheme is going to enable the innovative technology companies in every corner of the United Kingdom for the purpose of accessing the financial support which the companies are needing for the purpose of scaling up and bringing the transformational technologies to the market along with boosting the economy and creating the high-skilled jobs as a part of the plans of the government.