The government has announced a new convertible loan to support the growth and innovation of companies in sectors of technology, life sciences, and creative industries. Businesses in South Derbyshire can now apply, https://www.gov.uk/guidance/future-fund.
The government has made an initial £250 million available for investment through the Future Fund scheme and will consider increasing this if needed. Loans can be between £125,000 and £5 million.
Private investors – potentially including venture capital funds, angel investors and those backed by regional funds - will at least match the government investment in these companies.
The Future Fund is good news for businesses in South Derbyshire. By helping them through this challenging time and providing a bridge to recovery it will help businesses flourish.
Technology, life sciences and creative industry sectors are helping shape the countries future, developing new ways of conductive business and helping others develop and adapt.
Life has changed in many ways as we have adapted to current challenges and I hope the government support available will help businesses grow and become more resilient as step onto the road of recovery.