UK Royal Society targets £20m for early-stage tech support
This article was originally published in Clinica
The UK's Royal Society has launched an Enterprise Fund (RSEF) aimed at supporting innovation "by investing in early-stage business opportunities founded on outstanding technology". The fund, which is said to have already attracted donations amounting to “several million pounds", will focus on what the Royal Society sees as a gap in early-stage investments in the £0.25-2m ($0.37-3m) range. Marking its 350th anniversary campaign, it is aiming to capitalise the fund initially to around £20m. The Society sees "three key gaps within the UK innovation environment", namely: a funding gap for early-stage investments, in the said range; a "preparedness gap", with early-stage science-based projects "not always ready to go to the market for financing"; and a research area gap, with "comparatively poor funding" of non-medical research fields.
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