Last week the United Kingdom held a public referendum on the country’s continued membership within the European Union (EU). The final result revealed a small majority of UK voters are in favour of leaving the EU. The decision to leave, if enacted by the UK government, is likely to have significant implications for UK-based companies who strategically leverage government funding instruments, both national and European, to bring innovative technologies and solutions to market. The following report examines how the interests of these companies are likely to be affected in the short and long-term with the caveat that the decision of a Member State to secede from the EU is unprecedented, and that EU Treaty provisions referring to such a withdrawal process are poorly defined, and provide limited guidance. The attached analysis reflects our understanding of the legal and political situation as it stands today.
