Future Fund reduced risk of business closures and damage to long-term company prospects
67%
of Future Fund companies sought funding as a result of the pandemic
48%
of Future Fund companies may have closed during the pandemic without its support
62%
of Future Fund companies said they probably or definitely would not have been able to obtain similar funding from elsewhere
28,000
employees supported with £1.14bn of funding deployed by the Future Fund to 1,190 equity backed companies
UK tech investment soars
41%
of Future Fund companies were technology or IP based businesses
85%
of Future Fund companies have undertaken research and development activities since receiving funding
65%
of Future Fund companies adopted or expanded digital technologies since receiving funding
£122k
of additional investment per Future Fund company may have been enabled to support long-term business development Read footnote text 1
-
Return to footnote location
1
This 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.
A clear and quick application process
46%
of Future Fund companies said the speed of funding attracted them to apply to the Future Fund
90%
of Future Fund companies found the application process was clearly explained
17 days
was the average time between the start of the application process and funding being approved
2 days
was the average time between paperwork being submitted and funding being approved
Supporting diverse management teams
52%
of companies had at least one management team member from a Black, Asian or Other Ethnic Minority background
5%
of companies had management teams solely from Black, Asian or other Ethnic Minority backgrounds
69%
of companies had at least one female management team member
42%
of companies had at least one female founder Read footnote text 2
-
Return to footnote location
2
Of companies with known founder gender data.
Delivering large-scale investment relative to similar European schemes
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