Government Sets Up £375M Fund For ‘Game Changing’ UK Tech Firms

More exciting news this week for the UK technology sector. The government has announced a new fund to support fast-growing firms working on “game changing” technology, including in areas such as life sciences and clean energy.


The future fund: breakthrough scheme will involve the government committing to co-invest alongside private enterprise to give extra impetus to businesses looking for cash to take nascent technologies to the next step.


The chancellor, Rishi Sunak, said: “Technology and innovation will be at the heart of our future economy which is why we are investing billions in R&D to help cement our status as a world leader in this field.


Government spending on R&D is slated to hit £14.9bn for 2021 and 2022, the highest level in four decades, as part of an effort to increase investment in innovation to 2.4% of economic output by 2027.


Judith Hartley, chief executive of British Patient Capital, said: “With many world-class universities and a strong track record in science and research, the UK is fertile ground for creating high-growth companies based on cutting edge technologies.


“Through the commercialisation of R&D, these transformative companies will help accelerate the deployment of innovative breakthrough technologies that can transform major industries, develop new medicines, support the transition to a net zero economy and strengthen the UK’s position as a science superpower.”


You can’t deny this is an exciting time for UK tech and the demand for skilled workers to fuel this growth is continuing to increase. Colossus Associates has invested a great deal of time and effort into forging strong relationships with many of these new and innovative technology companies and has access to the very best roles on the marketplace.


If you’re a technology specialist and eager to find a new role working for one of these exciting businesses, you can contact our team at any time and discuss how we can give your career the boost you have been looking for.


For our latest roles you can check out our job board here or contact the team via our website. There really is no better time to pursue a career in tech and no better team to put your trust in than Colossus Associates.



Photo by ThisisEngineering RAEng on Unsplash

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Daniel Knott

22nd July