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read moreUK Innovation & Science Seed Fund, an early-stage venture capital fund focused on promising technologies developed at the UK’s largest publicly-funded research facilities and campuses, today announces that the fund have now leveraged more than £200m to work supporting UK’s most ground-breaking and innovative companies.
Since the Fund’s inception in 2002, UK Innovation & Science Seed Fund has been investing in the earliest and riskiest stages to create promising technology companies that stem out of engineering and high-quality science research. The Fund has made a significant contribution to the commercialisation of more than 30 high quality science technology start-up companies in sectors such as health, environmental services, international development and security. UKI2S’ portfolio showcases a number of ‘world’s firsts’ ambitions and includes two companies named by the World Economic Forum as ‘Technology Pioneers’ (see below list).
UK Innovation & Science Seed Fund partners are leading UK public sector research establishments led by STFC (Science and Technology Facilities Council), BBSRC (Biotechnology and Biological Sciences Research Council), NERC and Dstl (Defence Science and Technology Laboratory). The fund is independently managed by Midven.
“Securing the first round of finance is notoriously hard for early-stage companies, as is investor willingness to continue to back the most promising companies in further funding rounds,” said Dr Andrew Muir, UK Innovation & Science Seed Fund Investment Director. “UKI2S aims to lower this establishment phase hurdle and drive companies towards commercialisation and sustainability, offering strategic support and leveraging private capital to help businesses stand on their own. Our differentiating approach is that we don’t just invest in established teams or developed companies. With a risk appetite that is higher than pure private funds, we get involved at the earliest stages and continue to grow with them as ‘patient capital’ investors”.
“Investors play a key role in the success of new engineering and technology companies in the UK”, commented former science minister Ian Taylor who is chairman of the UK Innovation & Science Seed Fund advisory board. “Britain is good at research, but not as good at taking ideas beyond discovery towards commercialisation. UKI2S plays a particularly helpful role in bringing those ideas to market and has stimulated a multiple of follow-on private investment into its portfolio companies”.
Two of UKI2S’ portfolio companies, Tokamak Energy and Synthace, have been named World Economic Forum Technology Pioneers, joining the ranks of the world’s most innovative companies.
By offering backing at an early stage, UKI2S has a unique opportunity to support the UK’s most promising scientists and help turn their ideas into market-leading companies. A number of UK Innovation & Science Seed Fund portfolio companies are being recognised for their ‘world’s first ambitions,’ including:
The Fund has already had four successful exits and has recycled the funds into new investments.
May 03, 2017 Justin Petrone www.genomeweb.com British molecular diagnostics company Cytox plans to...
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