@altgate

UK Government To Launch VC Fund To Rescue Startups

No, I'm not making this up.  According to this article in the Guardian, the UK government is putting £1 billion into a fund that will invest in startups.  The idea is that it's some sort of rescue plan.

This is not going to end well.

How are they going to allocate the money?  How will they track it?  Are they going to sit on boards?

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Categorised as: Venture Debt

  • http://sixthtime.blogspot.com/ bpaul9999

    We are a USA startup that is going to make it it this economy. Some of that is due to US government funding over the past few years through an entity called the National Science Foundation. (http://www.nsf.gov/about/)

    Most people think they only fund university research but they have an entire team on the commercial side who knows what they are doing and has been instrumental in guiding us to where we are today.

    I hope Obama’s new administration takes note – the US Government has been effectively doing this for some time now and if we are to grow innovation and create job growth this is an entity that is there.

  • A. Nonymous

    This is NESTA.

    NESTA’s reputation in the UK is receving millions and millions of pounds of public money, but not knowing what to do with it, or finding arbitrary excuses not to give it to anyone. According to rumour when they do give it away they usually give no active support to the companies they invest in. That’s not what the website says, this is just what I’ve heard lots from different people.

    A lot of UK entrepreneurs seem to have irritating or disappointing stories of 1st hand experiences. The impression I get is disappointment most – NESTA has good ideals, the money is FREE! But it fails to live up to them.

    This could be the start of a turnaround for NESTA, which would be brilliant. My fingers are crossed. But I’m not going to hold my breath.