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After Brexit the UK government pledged to become “a science and technology superpower” by 2030 — and a generous R&D tax relief scheme was one initiative meant to spark that into life. But as Zosia Wanat reports, many startups are now facing bankruptcy as a delay in payments is causing cash to run dry. 

And it's Friday, which means there's a new episode of The Sifted Podcast ready and waiting. This week Amy and Eleanor talk Babylon's stock market dilemma, while Tim introduces us to a new friend he's made — an AI chatbot. Listen here.

Also from the Sifted newsroom:

• Regulators sniff around Sorare

• The best questions to ask at a startup interview

• How recession-proof is climate tech?

— Alex, writer & Eleanor, deputy editor

The UK government's R&D tax credit scheme was supposed to encourage scientists to commercialise their research and help turn the UK into a science and tech powerhouse.

But payments delays lasting weeks have left some startups staring into a financial abyss as they run out of cash and have no clarity from tax officials on when they'll be getting their money. 

So how has this happened, and will it be fixed?

Jobhunting is a tricky business at the best of times, but amid a flurry of layoffs at startups it'd be understandable if you were a bit spooked by the prospects of joining one right now.

But you don't need to be — as long as you carry out sound due diligence, you should be saved from any nasty surprises down the line. 

Here are the interview questions you need to be asking.

Fantasy football NFT game Sorare has been one of the breakout European stars from the booming crypto scene in recent years, reaching a $4.3bn valuation only two years after being founded by Nicolas Julia.

But its dominant run of form may be facing a hiccup in the form of gambling regulators, which are having a hard look at Sorare's NFT elements — and have suspicions it could constitute a gambling product.

Tim Smith finds out if Sorare is the canary in the blockchain coalmine.

As we enter a period of economic uncertainty, startups are battening down the hatches and hoping to ride out the storm. But one sector is feeling more optimistic than most: climate tech.

Our most recent Pro Roundtable gathered industry-leading experts to debate the sector's resilience, as the material impacts of climate change bring home just how urgent the problem is.

Check out our roundup of the key insights.

We take quality journalism seriously. Sifted membership keeps you up-to-date on the latest news, risks and opportunities in startup Europe.

Become a member.

🐉 Dragon snaps up $24m for Web3 startup. Steven Bartlett, the British founder-turned-TV star who became the youngest ever cast member on Dragon's Den last year, has tapped US VC Haun Ventures for a Series A round for his Web3 infrastructure toolkit thirdweb. Bartlett, also known for his podcast Diary of a CEO, says he wants to expand his company's compatibility to support more blockchains on the platform.

🔋 Anaphite raises £4.1m to scale battery efficiency tech. The Bristol-based startup's seed round, led by Elbow Beach Capital, will help it scale up production of its cathode innovation, which could halve battery charging times and reduce manufacturing costs by 12%.

🎙️ How to start and scale a podcast. It's the new must-have for startups and founders around the world, but starting a successful podcast isn't as simple as playing a funky jingle and hitting record. Imriel Morgan, CEO of podcast marketing agency Content is Queen, gave our Startup Life newsletter her top tips for standing out from the crowd. 

🌿 How do VCs really feel about funding more sustainable startups? (In partnership with Amazon Launchpad).

Alex Oscroft

Writer

Get in touch with him at alex@sifted.eu 
Or @alex_oscroft

Eleanor Warnock

Deputy Editor 

Get in touch with her at eleanor@sifted.eu
Or tweeting at @misssaxbys

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