MP urges businesses to apply for share of £1.25bn innovation fund

Apr 21, 2020

Ben Everitt, MP for Milton Keynes North.

MP Ben Everitt has welcomed the government’s newly announced billion pound support package for innovative firms hit by coronavirus.

The £1.25 billion funding includes a £500 million investment fund for high-growth companies impacted by the crisis, made up of funding from government and the private sector.

SMEs focusing on research and development will also benefit from £750 million of grants and loans, and with Milton Keynes being at the heart of innovation in the UK, Mr Everitt has encouraged local businesses to apply.

“MK is the home of innovation from driverless cars to delivery robots,” said Mr Everitt, MP for Milton Keynes North. “I hope that our amazing local businesses can benefit from this new fund, set up to support innovation and technology as we come together to deal with the coronavirus crisis.”

Oliver Dowden, Secretary of State for Digital, Culture, Media and Sport, added: “We are the tech and creative capital of Europe, and it’s crucial to maintain our place.

“This funding will protect high growth businesses and enable the unicorns of tomorrow to thrive so that tech is in pole position to drive our post COVID recovery.”

by ANDREW GIBBS e: news@businessmk.co.uk

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