UK Unveils £150M Fund to Back Scaleups in the North of England
The government has announced a £150m fund, drawn from the British Business Bank, to invest in university spinouts and fast-growing firms across northern England.
AfroEuropa Newsroom
AfroEuropa desk
The UK government has announced a £150m fund aimed at supporting scaleups in the north of England, part of an effort to drive economic growth beyond London.
According to Tech.eu, the fund will target university spinouts and what the government described as ambitious businesses across the region, making individual investments ranging from £5m to £15m in firms it characterised as among the most innovative and fast-growing.
The money comes from allocations previously set aside for the British Business Bank, the government-owned economic development bank.
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