6.6 UK Innovation Investment Fund
T H E U K S T R A T E G I C I N V E S T M E N T F U N D – I N T E R I M R E P O R T
from the SIF and money allocated to the help scheme for Digital Switchover in television ) and work on digital test beds . The Universal broadband commitment is intended to ensure areas which have not benefitted from private investment in broadband networks are provided with a good level of service . This will be added to by private sector investment , levered through competitive contract ( ie subsidy offered on a ‘ reverse auction ’ basis ); and contribution from other public sector organisations in the Nations and Regions . In addition , the Technology Strategy Board will invest up to £ 10 million to expand work in support of the Digital Britain agenda with a particular focus on Digital Test Beds and improving the competitiveness of creative content businesses .
6.6 UK Innovation Investment Fund
The Government is also addressing problems faced by small , high growth technology-based companies in accessing equity-finance through development of a commercial Fund of Funds . This will be set up with a cornerstone investment of £ 150 million from government ( with contributions from the SIF , the Department of Energy and Climate Change and the Department of Health ). The Fund will be managed by an experienced Fund of Funds Manager with a proven track record in technology investing . Investments in underlying technology funds will ultimately be a commercial decision for the Fund of Funds manager and the government investment will leverage in funds from the private sector with the aim of creating a £ 1 billion fund over 10 years .
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