Re: UKNM: Wimps?

[Mark Dolley]

Sajid Mohammed,

g23rocketmail [dot] com

 wrote on 10/26/98 4:55 AM:


>There are funds in this country like Kennet Capital and Amadeus who

>would fund ventures - I have no reason to denigrate the work they do,

>but I think that the other problem is that we just don't have the

>critical mass of funders and fundees(?) that they have in the Valley,

>which makes for a fertile business culture.

>

>That's my two-pence worth, what do other people think?


The funders and fundees are missing because the funds are also missing. 

More needs to be done to encourage UK institutional investors to seeks 

the higher returns that venture capital can deliver. Since the last 

budget, with Venture Capital Trusts being introduced to make VC investing 

more tax-attractive in the UK, things ought to improve slightly. And the 

government seems to be waking up to this: Mandelson was here in San 

Francisco a couple of weeks ago asking just how a Silicon Valley-like 

support structure could be developed in the UK. Several of us expats gave 

him a right earful about having to move here to find the money.


All those wishing to complain about how they are hindered by a lack of VC 

money in the UK should have a moan at Stephen Haddrill of the DTI's 

Competitiveness Unit:


ph: 0171 215 5718

fx: 0171 215 2817


Why am I surprised he doesn't have an e-mail address on his card?


           Mark Dolley                         z a p w o r k s !

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