The Government has announced the next stage in the implementation of the UK Innovation Investment Fund (UKIIF).
The Department for Business, Innovation and Skills has issued a request for proposals from prospective fund of funds managers, who will be responsible for managing the fund. The BVCA had campaigned for the UKIIF for many months in the lead up to its announcement at the end of June.
The Fund will focus on investing in "venture capital backed technology based small firms, start-ups and spin-outs, in digital and life sciences, low carbon, clean technology and advanced manufacturing primarily in the UK." Proposals should be submitted by 18 September, and more information is available at:
http://nds.coi.gov.uk/content/Detail.aspx?NewsAreaId=2&ReleaseID=405526&SubjectId=2
For more information on the UKIIF, please click on the link below: http://www.dius.gov.uk/innovation/ukiif
