Investment fund to back innovative UK firms
A new National Investment Fund to help cutting-edge British start-ups become world-leading unicorns – innovative firms valued over $1 billion USD – has been proposed!
The consultation, ‘Financing growth in innovative firms’, looks at ways to ensure start-ups have access to the finance they need and has identified a £4 billion funding gap between American firms and British firms.
The National Investment fund will help address this gap and boost British business.
Chancellor of the Exchequer, Phillip Hammond said:
“Britain is an innovation powerhouse and it’s vital that we make sure our cutting-edge firms have the funding they need to meet their potential and conquer new markets.”
He added “Meeting this challenge will boost our productivity and enable us to create more well paid jobs across the UK.”
