New funding scheme announced for UK digital companies
The British government has announced a new scheme designed to give money to technology-based companies in the United Kingdom.
The UK Innovation Investment Fund will invest in small businesses and start-up companies in a number of sectors, including digital and clean technology. It is hoped the plan will raise up to £1 billion over the next ten years.
Speaking at the launch of the UK Innovation Investment Fund, Prime Minister Gordon Brown said that the scheme would help companies, such as new SEO businesses, reach their potential.
"This fund will provide crucial support for our most promising start-ups and existing small companies just when they need it most," said Brown.
Building Britain’s SEO future
The new project is part of the government’s ‘Building Britain’s Future’ programme. The UK Innovation Investment fund grants private investment to companies via a series of specialist organisations. It is hoped the scheme will encourage research and innovation in a number of sectors, including digital and SEO.
The plan was originally conceived by the
National Endowment for Science, Technology and the Arts (Nesta) in 2008.
Jonathan Kestenbaum, chief executive for NESTA, said at the time:
“In benign economic conditions, a decision like this might take a long time. But now I think there's a consensus in government and beyond that something needs to be done quickly. Our sense is there is real momentum.”
