The UK wants to give startups £400 million to prevent foreign buyouts
Nov23
The UK government just announced a slew of investment in startups and R&D in a move that’s guaranteed to benefit the country’s increasingly important technology sector. News of the funding was unveiled during Chancellor of the Exchequer Phillip Hammond’s Autumn Statement. Over £400 million of government finance will make its way to startups as venture capital via the British Business Bank. The explicit purpose of this is to stop the flow of UK startups being purchased by foreign buyers. ”I am taking a first step to tackle the longstanding problem of our fastest growing technology firms being snapped up by bigger companies, rather…
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