May 3, 2015: The startups and newly claimed to fame technology firms, Barclays has a good news for you. The British multinational banking company announced that they are launching UK's first £100 million fund to help fast growing technology firms accelerate to the next level.
The most innovative technology businesses has chance to lend up to £5m, which can be repayable over three years. Earlier, this scheme was available for only US enterprises, allowing them to grow more faster than UK counterparts.
The company's chief executive during the launch in Cambridge, said: "The new fund offers a welcome boost to the growing UK technology firms, and will provide a catalyst for their development into larger companies."
He further adds, "Entrepreneurs and businesses are life blood of the UK economy and the technology sector is an incredible incubator for many of these talented individuals and businesses. the rapid growth we've seen in the UK rivals the activity and dynamism of Silicon Valley with record levels of investment from the US into London-based technology firms in particular."
The financial service company Barclay recent reports also claimed that UK tech businesses are predicted to grow four times faster than GDP this year.
Source: Startups.co.uk
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