The government has announced it will invest in innovative start-ups as part of a £1.25bn bailout plan for struggling to survive the effects of the coronavirus pandemic.
To qualify to receive the government money, however, start-ups must have raised £250,000 of private funding over the last five years. On top of that, any money put in by the government must be matched by non-government investors. Furthermore, if the money is not repaid, the government will take an ownership stake in the company.
The scheme will initially be open until the end of September. It has broadly received positive feedback, but key aspects of its implementation are still unclear.
If you think you may be eligible for this scheme, please get in touch with us to find out more.