Mergers and Acquistions News
Categories: Hardware
November 20th 2008, 15:44PM
British Technology firms need more investment from venture capital firms, according to one government figure.
Speaking to the British Private Equity and Venture Capital Association (BVCA) Spin-Out conference, science and innovation minister Lord Paul Drayson stated that almost £200 million was invested in early-stage UK technology firms last year and this is not enough.
According to Lord Drayson, this means that British firms are not reaching their full potential.
He called on BCVA members to put more of the billions they invest each year into technology firms.
"UK science offers the breakthrough technologies in everything from genetics to computer games, from plastic electronics to photo-voltaics, from regenerative medicine to renewable energy," he said.
Yesterday, it was revealed that a UK firm is looking to make an investment of its own.
Video search engine Blinkx has made a $0.55 (£0.37) a share bid for US firm Miva in an attempt to expand the services it offers.
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