UK Government Plans Buy Stakes In Tech Startup - TechSog

UK Government Plans Buy Stakes In Tech Startup

UK government plans buy stakes in tech startup Great Britain might have a new to accomplish technology supremacy throws money directly at companies.

According to financial times sources, the country is establishing a “Future Fund: Breakthrough” effort that would spend up to £375 million (about $522 million) on stakes in “later stage” tech startups. 

UK Government Plans Buy Stakes In Tech Startup

This move theoretically assists promising corporations that could improve the UK’s standing tech enterprise, but still, need a financial upgrade to compete on a global scale. 

The announcement of the future funds plans to be made public alongside the UK’s latest budget on March 3rd, it’s is not clear which companies will be part of the first wave, an action like this will raise questions. Like, (are there any means to prevent favoritism, and will citizens be pleased with the knowledge of them becoming venture capitalists investors?)

This might be pleasing to people worried that the country’s tech companies might l look for outside investors or flounder, particularly during a pandemic when things are right.

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