The Chancellor has announced a new
£1.25 billion coronavirus package to protect firms
driving innovation in the UK. The package includes a £500
million investment fund for high-growth companies impacted by the
crisis, made up of funding from government and the private sector.
SMEs focusing on research and development will also benefit from
£750 million of grants and loans.
The announcement said the "targeted and tailored help aims
to ensure firms in some of the most dynamic sectors of the UK
economy – ranging from tech to life sciences – are
protected through the crisis so they can continue to develop
innovative new products and help power UK growth."
The comprehensive package includes a new £500 million loan
scheme for high-growth firms, called the Future Fund, and
£750 million of targeted support for small and medium sized
businesses focusing on research and development.
