As part of our Industrial Strategy, we are unlocking over £20bn of patient equity investment through a 10-year Action Plan. British Patient Capital, part of the Government-owned British Business Bank, has available resources of £2.5bn with which it aims to attract a further £5bn of private sector finance. British Patient Capital will help to support innovative UK SMEs with high growth potential to access the long-term finance they need. This patient investment is available to support emerging science and technologies across the UK, including in Birmingham and the West Midlands.
At Budget 2018, £1.6 billion of funding was allocated to boost transformative technologies such as quantum computing and back UK scientists and businesses to be at the frontier of innovation.