The project aims to develop and test mechanisms for stimulating trilateral alliances between technology SMEs, large companies and venture capital (VC) firms.
The purpose is to satisfy market needs and opportunities through more widespread and faster exploitation of new technology from (or channelled through) innovative SMEs. The project seeks to exploit the known benefits of corporate venturing in which large companies may plug gaps in their technology in return for contributing complementary resources, in alliances with SMEs.
However, few large companies are willing or able to provide equity finance and the absence of funds frequently inhibits many potential valuable alliances.
The key feature of the project is that it will address the need to fund internal SME development, through the introduction of VCs.