The UK has greenlit a $300 million rescue package to stop thousands of startups collapsing during COVID-19

The UK government will launch a £500 million co-investment fund for startups struggling to survive COVID-19.Half that cash will be the government money issued via convertible notes, with the private sector expected to match funding on a deal-by-deal basis.Business Insider reported in March that startup backers were seeking up to £300 million in rescue funds for early-stage startups.Visit Business Insider's homepage for more stories.British venture-backed startups strapped for cash during the pandemic will get a helping hand from the government.The Treasury has announced a £1 billion ($1.2 billion) bailout package targeted at startups and innovative small- and medium- sized business, to keep the UK's tech and life sciences industries afloat as COVID-19 bites.There are two parts to the bailout

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