Financing High Tech Small Firms
April 27 2009
Seminar Room 1.06,
ESRC Innogen Centre,
Old Surgeons' Hall,
High School Yards,
All Welcome no need to book
Organised by: Innogen, Edinburgh University
'Financing High Tech Small Firms'
This seminar reports on work in progress exploring the ways in which innovative small firms have been financed in the UK. It positions current policy within a historical trajectory, and relates policy development to academic ideas about the management of risk. Problems with the current lack of attention to 'investment readiness', economies of scale, size of funds, systemic financing over firm's lifecycles, mistaken views of what drives US success, and very unrealistic views about the innovative potential of entrepreneurs, small firms and academic spin outs are highlighted. A simple framework is used to account for empirical anomalies and used to propose future changes in how UK and EU VC policy might be developed. Particular attention will be given to the problems facing the UK Biotech industry.