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25 January, 2006 - 21:39 By Staff Reporter

EEDA considers seed fund

EEDA is examining the possibility of launching a new financial instrument aimed at knowledge based companies.

EEDA is examining the possibility of launching a new financial instrument aimed at knowledge based companies.

The scheme is still in the early stages of a feasibility study but the agency said it was considering offering a loan or grant to close to market companies, up to a maximum of £50k.

Given that the investment would be operating in the realm that most banks fear to tread, it is understood that the interest charged may be above those offered in the High Street.

A spokesman said the agency would know more about the viability of the initiative in the coming months.

The Wellcome Trust, which has funded massive expansion at the genome campus near Cambridge is meanwhile launching a Seeding Drug Discovery fund initially piloted with £12m.

It aims to bridge the funding gaps existing for researchers seeking to get involved in early stage drug discovery projects.

 

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