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Silicon Roundabout worthies in £2m UK.gov cash battle royale

The Register - The UK Cabinet Office has handed out two slices of its £10m Social Incubator fund to bankroll more macchiato-sipping big dreamers on East London's Silicon Roundabout.

Telefonica's venture capital outfit Wayra will get £1.2m of money from the public purse and, with the help of UnLtd, is expected to dish the cash out to startups deemed worthy of investment. Wayra and UnLtd didn't reveal exactly how the money will be spent, but promised to help fund 30 companies over the next two years as well as providing logistical support and any other help they can think of.

 

Meanwhile, Bethnal Green Ventures will get £900,00 from the government fund and split it into annual grants of up to £15,000 for 20 companies for the next four years. It'll also find them desk space in Google's Shoreditch Campus in the capital.