On-line dating agency for business

Written by: mf | Published:

Small firms and large companies are set to benefit from each other's resources thanks to a new on-line 'dating agency' launched today by Small Business Minister Nigel Griffiths.

On-line dating agency for business

The Corporate Venturing UK website will provide a confidential shop window where companies can identify potential partners who match their requirements for growing their business. It's the first time such a service has been provided.
The benefits of corporate venturing partnerships can take many forms, including:- making it possible for small businesses to gain management expertise from big companies; enabling small firms to get access to R&D facilities and financial support; and allowing large companies to benefit from an equity stake or co-ownership of intellectual property.
Corporate Venturing UK is backed by the DTI as part of a £1.5 million package of Government support and is devised by the National Business Angels Network.
Launching the initiative, Nigel Griffiths said: Corporate venturing is a win-win opportunity for both small and large companies. "Small businesses are able to tap into the expertise of their bigger counterparts and reap the benefits of established facilities, while large companies will be able to benefit from the well-known dynamism and risk-taking potential of the UK's small business sector.
"The Government has already provided tax relief through the Corporate Venturing Scheme for large firms to invest in smaller higher risk companies, so I am delighted to be able to formally launch this complementary initiative and demonstrate the DTI's support for Corporate Venturing UK." Corporate venturing has been a big success in the Unites States, with companies like Intel investing over $3 billion in small businesses.
Michael Snyder, chairman of Corporate Venturing UK, added:
"The service we shall be offering will give small businesses a wider horizon in searching for suitable opportunities. It will increase the strength of their corporate radar."

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