£1 billion investment fund launched to boost UK digital industry

The Government has launched a fund aimed at technology start-ups, which it hopes will provide £1 billion to develop the UK’s digital industry over the next 10 years.

The launch of the Innovation Investment Fund, with £150 million of Government money, follows the release of Lord Carter’s Digital Britain report in June. A spokesman for the fund said it would provide “crucial support” and “timely investment” for fledging companies.

The fund, launched earlier this week, will be available to businesses and start-ups working on developing the potential of the internet and digital technologies to improve how people communicate, listen to music, learn at school, deliver higher quality healthcare and increase business capacity.

Prime Minister Gordon Brown said the fund would help “build Britain’s future” by investing in key sectors and would provide “crucial support” for the country’s most promising start-ups and for existing small companies “just when they need it most”.

Source: Media Week

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http://www.mediaweek.co.uk/news/917664/1bn-investment-fund-launched-boost-UK-digital-industry/

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