PARLIAMENTARY WRITTEN QUESTION
Future Fund (10 December 2020)
Question Asked
To ask the Secretary of State for Business, Energy and Industrial Strategy, how long on average Future Fund applications have taken to process.
Asked by:
Darren Jones (Labour)
Asked by:
Darren Jones (Labour)
Answer
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 |
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To note, averages for October and November are not yet available.
Answered by:
Paul Scully (Conservative)
18 December 2020
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