Business, Innovation and Skills written question – answered at on 14 June 2012.
Simon Kirby
Conservative, Brighton, Kemptown
To ask the Secretary of State for Business, Innovation and Skills how many Enterprise Capital Funds had been set up by May 2012.
Mark Prisk
The Minister of State, Department for Business, Innovation and Skills
By May 2012, 11 Enterprise Capital Funds (ECF) had been set up. Since the ECF programme was launched in 2006, over £130 million has been invested in more than 120 small and medium-sized enterprises(SMEs).
A new £40 million ECF was announced in April to invest in UK cloud computing and Software-as-a-Service companies. Government will commit up to £25 million, with the remainder coming from the private sector.
The Government has committed a further £200 million to ECFs over this spending review period to April 2015, providing more than £300 million of venture capital investment for early stage innovative SMEs with the highest growth potential.
Yes5 people think so
No5 people think not
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