Business support vital to bridging "equity gap", says NESTA chief executive
01/08/2006
"Access to capital is only one of the critical ingredients required for embryonic businesses. Access to networks, mentors, role models and expertise is often more important than capital."
Speaking in response to a new Library House report into the "equity gap" in the UK innovation economy, Kestenbaum commented:
"The debate around the so-called "equity gap" has raged for sometime and is likely to continue to do so. However, more importantly, this report points to the emerging consensus of an "investor-readiness gap", especially for innovative start-up businesses. These enterprises often lack the business acumen and sense of the market to effectively commercialise their concepts and the crucial issue is therefore not one of the equity availability but of accessing equity."
"Access to capital is only one of the critical ingredients required for embryonic businesses. Access to networks, mentors, role models and expertise is often more important than capital."
The National Endowment for Science, Technology and the Arts (NESTA) is working to increase the UK's capacity for innovation, investing in all stages of the innovation process, backing new ideas and funding new ventures that stimulate entrepreneurship. It is the largest single source of early stage financing in the UK, and combines this investment with the provision of high quality mentoring and networking support for innovative business start-ups.