---
title: "GB-Sheffield: future funds"
ocid: "ocds-b5fd17-23141450-5c99-4c4b-a58c-bcba61e2701c"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-23141450-5c99-4c4b-a58c-bcba61e2701c"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-23141450-5c99-4c4b-a58c-bcba61e2701c.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-23141450-5c99-4c4b-a58c-bcba61e2701c.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "BRITISH BUSINESS BANK"
published: "2020-05-26"
---

# GB-Sheffield: future funds

Buyer: BRITISH BUSINESS BANK  
Current stage: Award  
OCID: ocds-b5fd17-23141450-5c99-4c4b-a58c-bcba61e2701c

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## Summary

The British Business Bank has recently completed a procurement process titled "GB-Sheffield: future funds," aimed at supporting innovative businesses in the UK adversely affected by Covid-19. This financial consultancy service, valued at £5,730,000, was initiated with a tender period that ended on 4th May 2020 and a contract period running from 18th May 2020 to 17th November 2021. Located in Sheffield, this initiative falls under the services industry category, specifically focusing on financial consultancies, although the procurement method details were not specified.

This tender presents substantial opportunities for businesses specialised in financial consultancy and those innovative companies that are pre-revenue or pre-profit, needing equity investment. As the Future Fund initiative intends to provide matching government support through convertible loan notes, firms with experience in investment facilitation or consultancy services tailored to start-ups would be particularly well-suited to compete. By partnering with eligible investors, businesses can potentially secure significant funding to navigate the challenges posed by the pandemic and drive future growth.

## Notice

2.1.1The Chancellor of the Exchequer announced the establishment of a new scheme to support innovative businesses in the UK currently impacted by Covid-19 (the "Future Fund"). The Future Fund is aimed at businesses that have been unable to access other government business support programmes either because they are pre-revenue or pre-profit and/or typically rely on equity investment. The support provided will be in the form of convertible loan notes ("CLN") into eligible companies on a 'matched basis' meaning there is a requirement for eligible investors to make an investment into the company as a condition to receiving government support.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/dd1b326a-334a-42cb-8bc9-59eb9769e742 |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Not Specified |
| Procurement method details | Not specified |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 26 May 2020 |
| Submission deadline | 4 May 2020 |
| Future notice date | Not specified |
| Award date | 3 May 2020 |
| Contract period | 17 May 2020 - 17 Nov 2021 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £5,730,000 |
| Lots value | Not specified |
| Awards value | £5,730,000 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | BRITISH BUSINESS BANK |
| Locality | SHEFFIELD |
| Post town | Sheffield |
| Postcode | S1 2GQ |
| Country | England |
| ITL 1 | TLE Yorkshire and The Humber |
| ITL 2 | TLE3 South Yorkshire |
| ITL 3 | TLE32 Sheffield |
| Local authority | Sheffield |
| Electoral ward | City |
| Westminster constituency | Sheffield Central |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | PRICEWATERHOUSECOOPERS |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66171000 - Financial consultancy services

## Release History

- 26 May 2020 at 12:50 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/dd1b326a-334a-42cb-8bc9-59eb9769e742

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/dd1b326a-334a-42cb-8bc9-59eb9769e742
  26th May 2020 - Awarded contract notice on Contracts Finder
- https://www.delta-esourcing.com/delta/respondToList.html?noticeId=496579612
  Please follow this link to view the notice.

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-23141450-5c99-4c4b-a58c-bcba61e2701c. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-23141450-5c99-4c4b-a58c-bcba61e2701c.json.