Vision: There is sufficient supply of capital at all stages with increased participation from domestic investors, and an environment to grow and scale large globally competitive science and technology companies that drive growth in the economy and high-skilled employment opportunities for citizens. Outcomes – by 2030 we will have:
narrowed the financing gap for the UK’s most innovative science and technology companies. We will reduce the financing gap to the United States, particularly for scale ups at later funding rounds, capitalising upon our mature, open financial markets to support the UK’s most innovative companies
increased the supply of UK institutional investment to deepen the pool of domestic capital available for scaling UK science and technology firms. We will engage closely with institutional investors, particularly defined contribution pension schemes, to address any remaining barriers to investment in innovative UK companies. This will ensure that UK pension savers stand to benefit from higher potential returns and that our most promising companies can access domestic sources of capital to scale up and remain in the UK
a scale up finance ecosystem capable of nurturing the next generation of globally competitive science and technology companies. In addition to increasing the supply of capital, we will strengthen the pipeline of high-quality science and technology businesses and spin-outs, increase specialist knowledge of UK investors, tackle regional disparities, and smooth the pathway to taking companies public
His Majesty’s Treasury is working on a cross-government action plan in collaboration with the Department for Science, Innovation and Technology, the Department for Business and Trade and the Department for Work and Pensions. Initial work will include:
building upon the strong track record of the British Business Bank to strengthen support for the UK’s scaling science and technology companies
implementing in legislation the recommendations of the Hill Review to enhance the attractiveness of the UK as a place to list
engaging with defined contribution pension schemes to unlock institutional investment into UK science and technology companies
delivering the Digital Growth Grant to boost small and scaling technology businesses in all corners of the UK