Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, how long on average Future Fund applications have taken to process.
The average time taken to process Future Fund applications is shown in the table below.
The number of days starts when matched funding was approved and finishes when the convertible loan was executed. The elapsed time depends on the actions of companies and investors as well as the managers of the Future Fund. The quickest application to date was completed in 9 days.
Month | Number of applications | Average time taken (days) |
May | 464 | 39 |
June | 229 | 34 |
July | 145 | 32 |
August | 120 | 30 |
September | 224 | 25 |
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To note, averages for October and November are not yet available.