UK adds £120M to Sovereign AI Fund and procurement scheme
Tech Funding News· Sofia Chesnokova·· 2 hours agoTop DealsAI Score58
UK adds £120M to Sovereign AI Fund and procurement scheme
UK adds £120M for Sovereign AI Fund to invest in and buy from startups
AI Overview
The UK Treasury added £60M to the Sovereign AI Fund, bringing it to £560M, and £60M to the Sovereign AI R&D Procurement Scheme.
Why it matters
The breakdown of the £621M package shows how the UK is using procurement contracts, not grants, to give smaller AI startups their first government customers.