Government teams up with private funds to back start-ups
The government is teaming up with private equity investors in a scheme to put money into technology start-ups. The £7.3m pilot is intended to keep Britain on the front line of technology and innovation by combining the extensive reach of government programmes with investors’ expertise in picking winners. Under the new scheme, companies can apply for support of up to £150,000 to test ideas. Seventy per cent of this will be a non-repayable grant, with the remaining 30% coming from one of seven selected private equity firms.
Source: The Times (17/01/2018)