{"id":8043,"date":"2020-04-21T14:18:27","date_gmt":"2020-04-21T13:18:27","guid":{"rendered":"https:\/\/www.hgf.com\/?p=8043"},"modified":"2026-02-02T15:57:25","modified_gmt":"2026-02-02T15:57:25","slug":"uk-billion-pound-support-package-for-innovative-firms-hit-by-coronavirus","status":"publish","type":"post","link":"https:\/\/www.hgf.com\/de\/knowledge-hub\/articles\/uk-billion-pound-support-package-for-innovative-firms-hit-by-coronavirus\/","title":{"rendered":"UK – Billion pound support package for innovative firms hit by coronavirus"},"content":{"rendered":"

The Chancellor has announced a\u00a0new \u00a31.25 billion coronavirus package<\/a> to protect firms driving innovation in the UK.\u00a0 The package includes a \u00a3500 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 \u00a3750 million of grants and loans.<\/p>\n

The announcement said the \u201ctargeted and tailored help aims to ensure firms in some of the most dynamic sectors of the UK economy \u2013 ranging from tech to life sciences \u2013 are protected through the crisis so they can continue to develop innovative new products and help power UK growth.\u201d<\/p>\n

The comprehensive package includes a new \u00a3500 million loan scheme for high-growth firms, called the Future Fund, and \u00a3750 million of targeted support for small and medium sized businesses focusing on research and development.<\/p>\n

The scheme will be administered as follows:<\/p>\n

\u201cDelivered in partnership with the British Business Bank and launching in May, the fund will provide UK-based companies with between \u00a3125,000 and \u00a35 million from the government, with private investors at least matching the government commitment. These loans will automatically convert into equity on the company\u2019s next qualifying funding round, or at the end of the loan if they are not repaid. To be eligible, a business must be an unlisted UK registered company that has previously raised at least \u00a3250,000 in equity investment from third party investors in the last five years.<\/p>\n

The \u00a3750 million of targeted support for the most R&D intensive small and medium size firms will be available through Innovate UK\u2019s grants and loan scheme.<\/p>\n

Innovate UK, the national innovation agency, will accelerate up to \u00a3200 million of grant and loan payments for its 2,500 existing Innovate UK customers on an opt-in basis. An extra \u00a3550 million will also be made available to increase support for existing customers and \u00a3175,000 of support will be offered to around 1,200 firms not currently in receipt of Innovate UK funding. The first payments will be made by mid-May.\u201d<\/p>\n

This update was prepared by HGF Partner\u00a0Hsu Min Chung.<\/a>\u00a0If you would like further advice on this please contact\u00a0Hsu Min<\/a>.\u00a0 Alternatively, you can contact your usual HGF representative or visit our\u00a0Contact page<\/a>\u00a0to get in touch with your nearest HGF office.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Chancellor has announced a\u00a0new \u00a31.25 billion coronavirus package to protect firms driving innovation in the UK.\u00a0 The package includes a \u00a3500 million investment fund for high-growth companies impacted by …<\/p>\n","protected":false},"author":315,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[498,497],"tags":[],"class_list":["post-8043","post","type-post","status-publish","format-standard","hentry","category-articles","category-knowledge-hub","sector-finance"],"acf":[],"yoast_head":"\nUK - Billion pound support package for innovative firms hit by coronavirus - HGF<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hgf.com\/de\/knowledge-hub\/articles\/uk-billion-pound-support-package-for-innovative-firms-hit-by-coronavirus\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK - 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