Chancellor of the Exchequer Rishi Sunak has pledged £1.25bn to support UK startups struggling to survive during the Covid-19 pandemic, including funding for high-growth companies and a “Future Fund ”.

This £500m Future Fund, created in in partnership with the British Business Bank , will see the UK government provide £250m.

£750m of support for research and development-intensive small and medium-size businesses will also be available through Innovate UK’s grants and loan scheme.

Organisations from across the UK start-up ecosystem warned that previous measures  did not go far enough to support startups.

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