The second round of the Enterprise Capital Funds (ECFs) closes for applications on 28 February 2007.
The government expects to commit up to £50 million to fund ECFs in this round. A further £50 million is reserved for another competition to be launched later in 2007.
Prospective bidders should be aware that competition for ECF status is likely to be high.
Bids may be submitted at any time until the closing date. Bids will not be disadvantaged if they do not arrive in advance of this deadline but earlier bids will be assessed for the shortlist sooner.
The overall aim of the programme is to increase the availability of growth capital to small and medium-sized enterprises (SMEs) affected by the 'equity gap', so helping to alleviate what would otherwise remain a significant barrier to enterprise and to productivity growth.
ECF does this by providing Government funding for a new investment product that encourages an increased flow of private capital into the equity gap; lowering the barriers to entry for entrepreneurial risk capital managers seeking to channel finance and mentoring to SMEs, so helping to foster the development of a sustainable skills base in this part of the market.
Further information on the bidding round can be viewed on the following web link:
http://www.sbs.gov.uk/sbsgov/action/layer?topicId=7000000158&r.li=7000032578&r.s=a
Source: Small Business Service
Enterprise Capital Funds