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

To ask the Secretary of State for Business, Energy and Industrial Strategy, how UK startups who have a US parent company as a requirement of US accelerator programmes can access the UK’s Future Fund initiative.

The Future Fund opened for applications on 20 May. The Future Fund will provide UK-based companies with convertible loans, investing between £125k and £5m, on the condition that third-party investors at least match the Future Fund’s commitment.

The eligibility criteria for the scheme states that a business must be a UK incorporated limited company and if the company is a member of a corporate group, only the parent company is eligible.