Monday, April 14, 2008

News: Seedcorn success a sign of strength in South Yorkshire


South Yorkshire Investment Fund (SYIF) is on target to fully invest a £4.65m Seedcorn Fund in local businesses. The pilot scheme was launched by SYIF in April 2007 to test ways of financing innovative early stage businesses to help take new technologies to market and at present £2.15m of the Fund has been paid out, with the remaining £2.5m scheduled for follow-on investment until 31 December 2008. Jonathan Dixon, Deputy Chief Executive at SYIF, said: "The demand for the Seedcorn Fund, which was much greater than anyone expected, does provide the strongest possible evidence that technology businesses are alive and kicking in South Yorkshire. "The lessons learned from the management of the pilot will be used to guide the design of a bigger, regional Seedcorn Fund that is expected to go live from 2009." SYIF's Spring 2008 newsletter, Profile, is out now.


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