英国风险投资情况

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Integrating the venture capital market
bvca.co.uk
Role of Government
• The Government’s role in encouraging entrepreneurship is vital • Budget 2011 – Expanding Enterprise Investment Schemes and Venture Capital Trust, doubled Entrepreneurs’ Relief • But there is still more that could be done • Increasing R&D tax credits
• Angel investing and venture capital are two very important parts of the innovation eco-system • Access to finance is the number one issue affecting start-ups and established SMEs • Bank lending remains difficult
• I talked to the Prime Minster about the importance of the sector while accompanying his delegation to South Africa.
• Promoting venture capital to all stakeholders – from politicians and regulators, to entrepreneurs, investors and the media.
bvca.co.uk
Integrating the venture capital market
Mark Florman Chief Executive, BVCA
Integrating the venture capital market
bvca.co.uk
The innovation eco-system
• Economic growth badly needed
• Important for Government to look at all steps on the funding ladder – from angel/seed to early-stage to later-stage and beyond
• CSR – pioneer of Bluetooth technology • LOVEFiLM – online DVD rental service acquired by Amazon in 2011
• BioVex – biotech business sold for US$1bn last year
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Integrating the venture capital market
bvca.co.uk
Role of BVCA
• Constant dialogue with both the UK Government and Brussels. • Strong links with Treasury, HMRC and BIS, as well as the Department for Culture, Media and Sport and the new pan-European regulator, ESMA. • Year of Venture - a 12-month campaign designed to celebrate the achievements of British venture capital.
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Integrating the venture capital market
bvca.co.uk
UK success stories
• Vodafone – founded in 1982 with VC funding from Hambros Technology Trust
• Autonomy – leading software provider sold to Hewlett Packard for US$11bn
• Icera - a world leader in wireless communications technology
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Funding the future
• Expanding Enterprise Management Incentive (EMI) scheme
• Further relaxation of Entrepreneurs’ Relief • New fund structure – BVCA proposal wowenku.baidu.comld see EIS money combined with traditional LP investment • VC passport