The World's Largest Seed Capital Fund

A Private Members Bill sponsored by Kitty Ussher gets its second reading this autumn which calls on the Government to implement a framework similar to the USA's Small Business Innovation Research Programme, which ensures that 2.5pc of the Federal R&D budget (worth $1.8billion in 2006) goes to young technology firms.

David Connell from Cambridge University's Centre for Business Research has written a report called "Secrets of the World's Largest Seed Capital Fund" and is leading the campaign for bringing such an initiative to the UK. Clearly, it could play a major role in helping to fund early stage technology businesses and give them a slice of the R&D pie that has traditionally gone exclusively to the Universities and larger research organisations. Improved access to proof-of-concept funding and seedcorn capital is needed to help nurture early stage science and technology companies and Connect Yorkshire applauds this initiative.

On a related theme, Red Planet Capital is a non-profit organisation that is establishing a strategic $75M venture capital fund for NASA. The purpose of the fund is to provide NASA earlier and broader exposure to emerging technologies. It is designed to promote the future availability of technologies with both government and commercial applications that can meet NASA's future mission requirements. The effort signifies the administration's commitment to creative approaches for promoting innovation in pursuit of America's space agenda.

Hot on its heals, is the MOD seeking to inspire innovators from across Britain to bid for a slice of £10M to develop their ideas further to help meet key defence challenges. See www.ideas.mod.uk.