Future Fund

(asked on 10th December 2020) - View Source

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.


Answered by
Paul Scully Portrait
Paul Scully
Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)
This question was answered on 18th December 2020

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

To note, averages for October and November are not yet available.

This content was generated for your convenience by Parallel Parliament and does not form part of the official record.
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