Britain has long been home to innovative science and technology businesses. The government says it now wants more of those companies to secure the funding they need to expand in the UK rather than looking elsewhere for growth capital. That ambition sits behind plans for a proposed UK Scale-up Fund worth more than £1 billion.
Announced on 27 July by the Department for Business, Innovation, Science and Trade alongside the Prime Minister's Office, HM Treasury, the Office for Investment and the British Business Bank, the proposal aims to bring together major pension providers to invest in Britain's next generation of high-growth companies. If established, the fund would connect long-term pension savings with fast-growing UK businesses, with the goal of supporting innovation while delivering returns for pension members.
