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Future Fund: Subsidiary Companies

Question for Department for Business, Energy and Industrial Strategy

UIN 46650, tabled on 13 May 2020

To ask the Secretary of State for Business, Energy and Industrial Strategy, how UK startups who have a US parent company as a requirement of US accelerator programmes can access the UK’s Future Fund initiative.

Answered on

22 May 2020

The Future Fund opened for applications on 20 May. The Future Fund will provide UK-based companies with convertible loans, investing between £125k and £5m, on the condition that third-party investors at least match the Future Fund’s commitment.

The eligibility criteria for the scheme states that a business must be a UK incorporated limited company and if the company is a member of a corporate group, only the parent company is eligible.