A Government investment fund expected to total £1 billion over 15 years has been launched to support high-tech UK businesses.
A London ‘fund of funds’ summit attended by leading investment bankers has showcased some of the country’s cutting-edge companies and innovative start-ups.
Also present was science and innovation minister Lord Drayson, who said: “Today is absolutely the time to invest in our most promising technology companies.
“We’ve had a decade of record investment in science and innovation, and we’re seeing signs of recovery in the economy. This is an exciting proposition for institutional investors.”
The Innovation Investment Fund will target high-growth small businesses in strategically important sectors such as life sciences, clean technologies, digital and advanced manufacturing.
It was announced by Prime Minister Gordon Brown as part of the Government’s strategy for rebuilding Britain’s post-recession economy.
It will be open to private and public-sector investors, and the Government is now considering a shortlist of bids from prospective fund managers.
Companies cited as examples of UK innovation include Horizon Discovery, the personalised medicine business recently named as the UK’s leading technology start-up.
Meanwhile, ApaTech holds the rights to bone-materials research from London and Cambridge Universities, and TMO Renewables is a world leader in advanced biofuels production technology.
UKCIG Investment News, December 2009
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