A new investment fund has today launched with the goal of supporting support UK entrepreneurs, university spinouts, and early-stage innovators. The UK Innovation Seed Fund is working in partnership with universities, innovation incubators, and scientific accelerators, intending to increase the availability of capital for early-stage businesses across all regions and nations of the United Kingdom.
The new fund will invest in Catalyst Technologies, supported by regional innovation ecosystems. The Fund describes Catalyst Technologies as a group of advanced and transformative technological fields that drive progress and innovation across various industries. These technologies accelerate the development and implementation of new solutions, enabling new scientific capabilities and efficiencies. The group includes fields such as life sciences, therapeutics, biotechnology, MedTech, artificial intelligence, quantum computing, blockchain, cyber security, advanced manufacturing, and machine learning.
The goals of the UK Innovation Seed Fund align with the UK Government’s ambitions to increase the availability of venture capital, pre-seed, and seed funding across the country. By doing so, the Fund seeks to help ensure that promising start-ups have the resources they need to succeed, regardless of location.
The fund is managed by leading venture capital investment manager Deepbridge Capital.
Private investors in the UK Innovation Seed Fund will be eligible for the numerous tax incentives of the Seed Enterprise Investment Scheme (“SEIS”).
SEIS tax reliefs include 50% income tax relief, 50% exemption from capital gains tax, tax-free growth, 100% inheritance tax exemption, and Share Loss Relief.
Ian Warwick, Managing Partner at Deepbridge Capital, commented:
“We are delighted to be managing this exciting new fund aimed at identifying, supporting and nurturing the very best catalyst technologies from across the UK which have the potential to be drivers of economic growth. The UK Innovation Seed Fund has numerous strategic partnerships with universities and incubators, with the intention of providing investors with access to exciting pre-seed and seed opportunities benefiting from supportive ecosystems.
“In a high tax environment, the Seed Enterprise Investment Scheme has never been more important to private investors and increasing the availability of capital for highly innovative companies critical for future economic growth in the UK.” www.ukinnovationseed.com
