Nurturing the start-ups
In an exclusive commentary for ScotlandIS, serial entrepreneurs, Ian Ritchie and Paul Atkinson argue for more funding for young companies.
"In the run up to the Budget there was, as usual, a ‘whole lotta lobbying’ going on.
The British Venture Capital Association (BVCA) believes there is a crisis is investment and wanted the government to channel substantial funds via the larger Venture Capital firms.
On the other hand, the CBI considers it is time to recreate the Industrial and Commercial Finance Corporation (ICFC), founded after the second world war by the major clearing banks and which later turned into the world’s largest Venture Capital firm, 3i. In the last decade 3i has moved out of this market altogether, leaving a significant gap.
These are both valid ideas, and it looks as though the proposed Strategic Investment Fund may go some way to address them but we are more worried about where the small start-up companies will actually come from – the innovative new businesses that will grow ambitious enough to seek the Venture Capital support that is proposed. Who is lobbying for them?
Read the full article on our blog