Future Fund: Breakthrough – Terms and Conditions

The terms of Future Fund: Breakthrough and any investments due to be made to potential investee companies under it may be withdrawn at any point.

British Business Bank reserves the right at any time not to make an investment into an investee company and/ or cancel or withdraw from the process at any stage. Any costs or expenses incurred by a sponsor investor and/or investee company will not be reimbursed and British Business Bank will not be liable in any way to a sponosr investor and/or investee company for costs, expenses or losses incurred as a result of this process.

British Business Bank reserves the right to reject any and all applications at any stage, with or without cause. British Business Bank reserves the right to request clarification of information submitted and to request additional information regarding any application, including the right to request face to face meetings. Refusal to provide such information upon request may cause the application to be rejected. Where no reply to a request for information or for clarification is received within ten business days, British Business Bank may consider that the application has been withdrawn.

No representation, express or implied, is made by British Business Bank as to the completeness or accuracy of any facts or opinions contained in the Future Fund: Breakthrough website page. Sponsor investors and investee companies should seek their own independent legal, financial, tax, accounting, or regulatory advice before making any application under Future Fund: Breakthrough.

Please note that British Business Bank acts as an investor for the purposes of this programme and therefore any application form under Future Fund: Breakthrough does not require approval under financial promotion legislation or corresponding rules.

British Business Bank is not authorised to carry out regulated activity. British Business Bank will thus be unable to consider responses where receipt or processing would require any form of regulatory authorisation or permission.

Any offer to invest in an investee company made by British Business Bank on its own behalf will be subject to the prompt and satisfactory agreement of legal terms.

Respondents should note that information received by British Business Bank or any other member of the British Business Bank plc group as part of this process, including personal information, may be published or disclosed in accordance with the access to information regimes. These are primarily the Freedom of Information Act 2000 and data protection regulations and legislation, including but not limited to the Data Protection Act 2018 and the European Union’s General Data Protection Regulation ((EU) 2016/679). In view of this, should respondents consider that any information should be treated as confidential and/or commercially sensitive, it would be helpful if respondents could set out why they consider this to be the case in each instance. Automatic confidentiality disclaimers generated by IT systems will not, in themselves, be regarded as binding.

If any member of the British Business Bank plc group receives a request for disclosure of information, full account will be taken of any explanation, but no assurance can be given that confidentiality will be maintained in all circumstances. Decisions on disclosure remain the responsibility of British Business Bank or the recipient of such request for disclosure and ultimately the Information Commissioner and courts.

Personal data will be processed in accordance with the privacy notice on our website.

By submitting an application under Future Fund: Breakthrough, applicants accept these terms and conditions. Except for these terms and conditions which are intended to be legally binding, any application form under Future Fund: Breakthrough is not a legally binding document and should be treated as indicative only.

Please refer to the British Business Bank website terms and conditions which contain the terms of use of the British Business Bank.