by Mike Masnick
Mon, Dec 8th 2008 11:47am
While the US is looking to bail out its biggest businesses, it looks like the UK is working on a plan for the other end of the spectrum: creating a £1 billion "emergency" venture capital fund for startups. While it's not clear how this money will actually get doled out, this could make a lot of sense. With increasing rumors that existing venture funds are having some trouble getting limited partners to actually meet the capital calls they committed to, there is some worry that the next generation of innovation (which may be necessary to get us out of this economic funk) will be stymied. While folks like Paul Graham are correctly pointing out that many internet startups these days really don't need venture capital to build success stories, that's not true of all startups. There are still innovative startups that will need risk capital to get anywhere, and having more money focused on those early stage, innovative companies with high growth potential seems a lot more intriguing (and useful) than dumping hundreds of billions into mismanaged behemoths who will quickly squander what they're given, and come back asking for more.
If you liked this post, you may also be interested in...
- UK Drug Dogs Finding Way More Sausage And Cheese Than Actual Drugs
- UK Trademark Battle Over The Number 3
- Menace To Tax Dodgers David Cameron Has His Own Tax Dodging Exposed By The Panama Leaks
- UK Police Flagging Uncharged Arrestees As Possible National Security Threats To Keep Their Biometric Data From Being Deleted
- Head Of British Rights Group: Piracy Is Google's Fault Even If It's Not Actually Google's Fault