The British government will allocate 20 billion pounds of capital for advanced British startups

The British government will allocate 20 billion pounds of capital for advanced British startups

The government revived the idea of ​​launching its own investment capital through the British business bank as part of plans to open 20 billion pounds sterling for advanced British start-ups over the next decade.

Chancellor Philip Hammond promised that his plan of action would ensure that the UK economy was "fit for the future", and new companies had access to the long-term venture capital investments that they needed.

Hammond said that wealthy investors would be encouraged to support intensive companies such as those engaged in medical science, doubling investment limits in enterprise investment schemes (EIS), although he promised that they would not be used as a shelter for the poor.

As part of these plans, a state-owned British business bank "incubates" an investment fund of £ 2.5 billion that can be placed on the London Stock Exchange or sold to a fund management group when it has a sufficient track record.

Recently, we talked about the largest venture capital deals in the field of cybersecurity in 2017.