I see that Milton Keynes has set up Milton Keynes Venture Fund, to invest in local small and medium sized enterprises.
It is nice to see this initiative as I have long advocated that this sort of local investment fund needs to be set up and operated, although it ought to be seen as a long-term and slow-burn initiatite which over the long-term could become a major local and regional player which provides a real alternative to the banks. Indeed each of the new Local Economic Partnerships ought to have its own local investment fund. I have been critical of RDAs, and other bodies, which set up so called Business Parks, Innovation Parks or Science Parks, but fail to have a structured investment network; business angels network, formal and structured links with educational and research establishments (and other businesses) etc, because without these they are just industrial estates, so I am pleased to see this being done somewhere in the UK. However, I have further ideas for how these funds could be established, operated and funded.