Chancellor: Future Fund expands to include startups from non-UK accelerators

The government’s Future Fund has been expanded to support businesses that contribute to the UK economy but have parent companies overseas.

The Chancellor of the Exchequer has today announced that firms that participated in a non-UK based accelerator programme are now eligible to benefit from the multi-million pound fund.

Part of the conditions of joining some accelerator programmes outside of the UK is that the businesses are required to create a non-UK incorporated parent company.

Developed by the government and delivered by the British Business Bank, the Future Fund launched in May and will initially run until the end of September.

The Chancellor of the Exchequer, Rishi Sunak, commented: “Our startups and innovative firms are one of our great economic strengths. As we begin to bounce back from coronavirus they will help drive our recovery and create new jobs.

“This change means that those startups who have strived to be the very best, and taken opportunities to grow their business, will be able to benefit from our world-leading Future Fund.”