The UK government is expected to announce a rescue fund for startups struggling to survive a drastic reduction in business. UK Chancellor Rishi Sunak will discuss the terms of an expected government-backed fund with startup investors and representatives on Friday afternoon. Industry sources expect Sunak to commit to a co-investment fund that could offer up to £500,000 to startups 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.