Chip giant Intel is arranging meetings with UK hi-tech start-ups with a view to financing them, it emerged today.
The company is using the commercial department of the US Embassy to arrange the meetings, with leading edge companies that need finance and guidance in the market.
The move is the latest indication of renewed US interest in the UK hi-tech sector, following Microsoft's decision earlier this year to invest in Cambridge's so-called Silicon Fen.
A source at the Embassy said last week that a large US company - "very liquid and with a massive turnover" - wanted to invest in small technical start-ups for reasons of prestige, according to UK magazine 'Computing'. That prompted a deluge of calls to the Embassy to join the queue, a source said today.
One caller, who wanted to remain anyonymous, said he had met with a positive response from the Embassy to his call. He said that he was very frustrated with attempts to get funding for his project, despite the backing of a large computer company and a large UK manufacturing organisation, which regard the technology as a solution to their problems.
He said: "I can't attack the banks here because it would not be in my interest to do so. But despite having the backing of two large multinationals, it is almost impossible to get finance here in the UK. "
Intel, he said, was particularly interested in companies that used the x.86 platform.
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