Equity investment opportunities for UK-based innovative SME businesses operating in the science, technology and engineering sectors, providing the finance they need to realise their potential.
The programme has an overall budget of £40 million to offer as equity investment deals.
The Fund will invest in approximately 16 start up and early stage science or engineering ventures. Investments of up to £2 million are available.
The Longwall Ventures Enterprise Capital Fund is funded by the Government through the Department for Business, Innovation & Skills (BIS). The Fund is backed by £25 million of Government money with a further £15 million from private investors.
The Fund will provide equity finance, investing in science, technology and engineering-based small and medium-sized enterprises (SMEs). It will address a gap in the market and help small businesses find the finance they need to realise their potential.
The Fund will invest in approximately 16 start up or early stage science/engineering ventures which have the potential to disrupt an existing market or gain a material share of a rapidly growing new market. The ventures are likely to be business-to-business (B2B), rather than consumer product based.
Although there are no specific exclusions cited, those wishing to apply are advised to liaise with the sponsor in the first instance to discuss eligibility.
Innovative UK-based growth businesses operating as SMEs in the science, technology and engineering sectors may apply to this Fund.
Match funding is not a stipulated requirement of this programme.
The funds will be offered to enable businesses development for companies with "high potential" for growth.
There are no stated deadlines; therefore applications for support may be submitted at any time.
Link to guidelines:
Assistance with submitting an application is likely to be provided by the British Business Bank.