UK launches online 'dating agency' for SMEs and large companies
The UK's Small Business Minister, Nigel Griffiths, launched a new online 'dating agency' on 18 June, which will enable small firms and large companies to benefit from each other's resources, including R&D (research and development) facilities. The Corporate venturing UK website will be financed with 1.5 million GBP (around 2.35 million euro) from the UK government's Department of trade and industry. The scheme will provide a confidential shop window where companies can identify potential partners. The service will enable small businesses to gain access to R&D facilities, financial support and management expertise whilst allowing large companies to benefit from an equity stake or co-ownership of intellectual property. 'Corporate venturing is a win-win opportunity for both small and large companies,' said Mr Griffiths, launching the initiative. 'Small businesses are able to tap into the expertise of their bigger counterparts and reap the benefits of established facilities, while large companies will be able to benefit from the well-known dynamism and risk-taking potential of the UK's small business sector,' he said. Corporate venturing has already been highly successful in the USA, with companies investing over three billion dollars (around 3.14 billion euro) in small businesses.
Countries
United Kingdom