Future Fund: Research

(asked on 22nd July 2021) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether the £375 million budget of the Future Fund: Breakthrough counts towards the Government’s target of investing 2.4 per cent of GDP on research and development; what estimate he has made of the proportion of that Fund that will be invested in life science businesses; and if he will set a target for investment in that sector.


Answered by
Amanda Solloway Portrait
Amanda Solloway
Government Whip, Lord Commissioner of HM Treasury
This question was answered on 9th September 2021

Future Fund: Breakthrough will encourage private investors to co-invest with government in high-growth, innovative firms.

The fund will provide equity funding to innovative, R&D-intensive UK companies operating in breakthrough technology sectors, including life sciences. The process of securing Future Fund: Breakthrough funding is demand-led: lead investors must apply to the Fund on behalf of the company seeking investment. There are no ringfences for particular sectors.

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