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Future Fund reduced risk of business closures and damage to long-term company prospects

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67%

of Future Fund companies sought funding as a result of the pandemic

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48%

of Future Fund companies may have closed during the pandemic without its support

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62%

of Future Fund companies said they probably or definitely would not have been able to obtain similar funding from elsewhere

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28,000

employees supported with £1.14bn of funding deployed by the Future Fund to 1,190 equity backed companies

Providing a lifeline to innovative UK businesses

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41%

of Future Fund companies were technology or IP based businesses

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85%

of Future Fund companies have undertaken research and development activities since receiving funding

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65%

of Future Fund companies adopted or expanded digital technologies since receiving funding

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£122k

of additional investment per Future Fund company may have been enabled to support long-term business development¹

A clear and quick application process

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46%

of Future Fund companies said the speed of funding attracted them to apply to the Future Fund

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90%

of Future Fund companies found the application process was clearly explained

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17 days

was the average time between the start of the application process and funding being approved

2 days

2 days

was the average time between paperwork being submitted and funding being approved

Supporting diverse management teams

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52%

of companies had at least one management team member from a Black, Asian or Other Ethnic Minority background

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5%

of companies had management teams solely from Black, Asian or other Ethnic Minority backgrounds

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69%

of companies had at least one female management team member

42%

42%

of companies had at least one female founder²

Delivering large-scale investment relative to similar European schemes

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In comparison to Denmark’s two schemes, the country with the next largest schemes, the Future Fund delivered five times the amount of funding to three times as many companies

¹This is a comparison of a Future Fund recipient company’s annual investment in capital and intangible assets compared to those that did not participate. Although the result is not statistically significant at this stage, the second and third stages of the evaluation will look in more detail at investment impact.

²Of companies with known founder gender data.