The Government announces a £40m boost for cutting-edge start-ups

On 20 May 2020, the Government announced £40 million of government funding to support the UK’s next generation of innovative businesses.

The Business Secretary announced that the government is doubling investment in the Fast Start Competition, with an additional £20 million. The competition is designed to fast-track the development of innovations that are being born out of the coronavirus crisis.

This investment is part of a wider investment package of £1.25 billion for innovative UK businesses, which was announced by the Chancellor on 20 April 2020.

More information on this can be found here.


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