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The scheme is open for applications until the end of September 2020.

The Chancellor recently announced a new £1.25 billion coronavirus package to protect firms driving innovation in the UK.

The package includes a new £500 million loan scheme for high-growth firms, called the Future Fund, and £750 million of targeted support for small and medium sized businesses focusing on research and development.

The £500 million Future Fund, delivered in partnership with the British Business Bank, will be launched in May and will provide UK based companies with between £125,000 and £5 million from the government, with private investors at least matching the government commitment.

The £750 million of targeted support for the most R&D intensive small and medium size firms will be available through Innovate UK’s grants and loan scheme.

Further information on the Future Fund and how to apply can be found GOV.UK.