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Government sets up £375m fund for ‘gamechanging’ UK tech firms

20th July 2021 | News

Future fund scheme will see the Treasury co-invest with private enterprise in bid to make UK a ‘science superpower’

Fast-growing firms working on “gamechanging” technology, including in areas such as life sciences and clean energy, are being invited to apply for a slice of a £375m fund aimed at fostering innovation in the UK.

The future fund: breakthrough scheme will involve the government committing to co-invest alongside private enterprise to give extra impetus to businesses looking for cash to take nascent technologies to the next step.

In an effort to make the UK a “science superpower”, the Treasury will favour industries such as quantum computing, life sciences and clean technology, in an effort to spur breakthroughs that can “solve some of society’s greatest challenges”.

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