Jeremy Hunt to unveil US-inspired tech VC fellowship scheme

The chancellor will announce a science and tech venture capital (VC) investment growth scheme inspired by the US in his upcoming Autumn Statement speech.

Chancellor Jeremy Hunt, who has often stated a desire to turn the UK into the “next Silicon Valley”, is expected to announce plans for a fellowship programme to increase the supply of tech-focused venture capitalists, as first reported by The Guardian.

The scheme, said to be worth £3m, will offer up to 20 fellowships to act as a small but meaningful boost to specialist investment into the sciences. The scheme is in part based on the Kauffman Foundation in the US.

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