Under The Small Business Research Initiative, Government departments and research councils will aim to procure at least two and a half per cent of their research and development (R&D) work from small businesses – this amounts to about £50 million a year.
Under The Small Business Research Initiative, Government departments and research councils will aim to procure at least two and a half per cent of their research and development (R&D) work from small businesses – this amounts to about £50 million a year. The new programme is intended to use Government R&D contracts to start up or develop the research capacity of high-tech small businesses.
The government will buy from businesses with less than 250 employees, sales of less than £26m or annual balance sheet total less than £17m. The business must also be independent – « that is, less than 25% of the business is owned by enterprises that do not conform to the other criteria – this rule need not apply to investments that are held by public investment corporations, venture capital companies or other institutional investors provided that they do not exercise control over the business. » This rule cuts out businesses part owned by large companies.
The Department of Trade and Industry, Health, Department of Transport, Environment and the Regions, International Development, Ministry of Agriculture, Fisheries and Food, and Defence have all already signed up. Together their R&D spend is around £1 billion.
According to Byers, a similar United States scheme has boosted small technology firms and helped them to grow into « world leaders ».
Source : smallbusiness.co.uk
Accelerators & Incubators, accelerateur, incubateur, entrepreneur, entrepreneurship, Executive Business Accelerator, Gilles Bouchard, Harvard Business School, Harvard Business Angels, innovation, Louis Catala, reconversion, startups, Audra Shallal, expertise, entrepreneur investisseur, développement, international, entreprise de croissance, accompagnement cadres et dirigeants, cadres, dirigeants, grands groupes, outplacement, startupper ; Government pledges to buy research from small high-tech firms