A UK company is offering over #120 million in venture capital in the hope of helping European start-ups compete without needing to attract foreign funds.
Carl Parker and Bob Jones, partners at Schroder Ventures, said last week that they were looking for people with ?bright ideas? who needed investment funding.
Parker said he believed that there was plenty of native talent who would welcome the chance of funding without needing to look for funds abroad.
In the past, bright UK and European inventors had needed to look to the USA for venture capital funds, he said.
Schroder?s move follows announcements by both Microsoft and Intel earlier this year that they were looking to invest in the UK.
Bob Jones, who is well known in the networking industry, joined Schroder?s earlier this year. He had founded Sonix, which was taken over by 3Com, and is a firm believer in encouraging home grown talent.
Most observers agree that start-ups in the UK and in France and Germany have a hard task attracting investment for their bright ideas.
One of the most outspoken in his criticism of venture capital is David Goldman, managing director of successful North Eastern company Sage. He approached a number of banks and investors when he was setting up his company but eventually funded the business by the simple expedient of re-mortgaging the house.
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