The New Economy Fund welcome to our related content. The New Economy Fund (NEF) is an initiative set up by the government to help the country transition from a traditional, industrial economy to a new economy driven by technology, creativity and innovation. The fund was created to both provide capital and to invest in the businesses, start-ups and other enterprises that are driving the change in our economy.
The NEF has been around since 2008, but it is only recently that it has become a bigger focus for the government and its associated agencies. The fund has a total size of £200 million and is now targeting investments in the tech sector and other sectors that support emerging technologies.
The fund is made up of three different parts. Firstly, £50 million is being used to drive start-ups and encourage ongoing growth in the sector. Secondly, £50 million is being used as venture capital to invest in larger companies with potential for growth. Lastly, £100 million is being used to invest in large-scale projects that will require large amounts of capital such as the construction of new data centres.
The NEF has already made some significant investments, including in companies such as Just Eat and WeWork. The government is keen to see the fund used to invest in more innovative, disruptive and socially aware start-ups. This could include investments in green energy or even social media companies.
The NEF is an important part of the government’s plans to transition the country from a traditional, industrial economy to a new economy driven by technology, creativity and innovation. The fund has already made some successful investments, and is set to become an even bigger part of the UK’s economy in the years to come.
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