Vfb2012 Access to Finance TSB Nigel Walker
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Business Master Class Slides - Accessing Finance
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Vfb2012 Access to Finance TSB Nigel Walker
- 1. Driving Innovation Technology Strategy Board Nigel Walker Access to Finance November 2012
- 2. Our goal is to accelerate economic growth by stimulating and supporting business-led innovation
- 3. Our 5 Strategic Focus Areas • Accelerating the journey – from concept to commercialisation • How businesses can get to market sooner - and more effectively • Connecting the innovation landscape • Helping companies to find the best answers, expertise and help • Turning Government action into business opportunity • Where Government procures, regulates, standardises... • Investing in theme areas based on global potential • Large markets which the UK is equipped to exploit • Continuously improving our organisational capability • Impact assessment, metrics, measures, efficiency, effectiveness.
- 4. What we do: • We help strengthen the global competitive position of our • leading businesses • We identify and grow sectors and businesses with the capacity to become the best in the world • We nurture the businesses that can succeed in the growth • sectors of tomorrow We consider: Is there a large Can the UK do it? market opportunity? Can we make a Is the idea ready? difference?
- 6. The Toolset Smart Collaborative R&D Entrepreneur Launchpad Missions Innovation Innovation Knowledge Centres Vouchers
- 7. Smart Awards • Proof of Market • Up to 9 months • Up to £25k grant • Up to 60% of project costs • Proof of Concept • Up to 18 months • Up to £100k grant • Up to 60% of project costs • Prototype Development • Up to 2 years • Up to £250k grant • Up to 35% of project costs (medium) or 45% of project costs (micro / small)
- 8. Launchpad • Stimulating cluster growth • Pilot in Tech City • Launched April 2011 • Up to £100k grant for digital projects up to 1 year, 50% grant • 200+ video clip applications • 40 shortlisted for full applications • 18 grant offers – contingent on raising matching external finance within 1 year • 14 projects raised funds (equity from angels / crowdfunding, debt, partner development contracts) • 1 project complete... Makielab: from idea to product launch in 6 months and $1.4m funding raised • Considering further Launchpads in 2013 and beyond
- 9. Knowledge Transfer Networks Aerospace and Defence Financial Services Biosciences HealthTech & Medicines Chemistry Innovation Industrial Mathematics Creative Industries Materials Electronics, Sensors & Photonics Modern Built Environment Energy Generation and Supply Nanotechnology Environmental Sustainability Transport ICT
- 10. _connect: open innovation platform 10
- 12. www.innovateuk.org Nigel Walker Access to Finance Technology Strategy Board Nigel.walker@tsb.gov.uk 07824 418360