Ruth Edwards MP is pleased that the government has made an initial £250 million available for investment through the Future Fund scheme.
Companies in Rushcliffe can now apply for a convertible loan of between £125,000 and £5 million to support continued growth and innovation across technology, life sciences and creative industries.
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.
Commenting, Ruth Edwards MP said:
“The Future Fund is important to make sure we back our high-tech innovative industries in Rushcliffe. The current challenges brought on by the Covid-19 pandemic are affecting a diverse range of sectors across the economy and it is important that as much support is offered to help them survive, thrive and protect jobs.
“Supporting these companies will not only spur our economic recovery when we emerge from this pandemic but also help to ensure they can continue to break new ground in technology and innovation.”
The fund will be open until September and is delivered in partnership with the British Business Bank.
Companies can check they meet the criteria for funding by going to the British Business Bank website. If they have secured private match funding, one of their investors can register online to start the application process.