Establishing a new UK finance escalator for innovative SMEs: the roles of the Enterprise Capital Funds and Angel Co-investment Fund

This paper examines UK public policy addressing the seed and early stage equity finance gap since the Global Financial Crisis (GFC). Drawing on lessons learned from recent studies of UK and international government equity schemes, two contemporary models of government backed equity finance are examined. The focus is on the Enterprise Capital Funds (ECFs) and the Angel Co-investment Fund (ACF), the UK government’s main schemes operating in the sub-£2m equity finance gap to address the capital requirements for developing the UK’s young, potential high growth businesses. The paper highlights the shortcomings of traditional interim fund performance analysis and presents current demand and supply side evidence that establishes that these schemes are making attributable impacts on their portfolio businesses and the wider UK economy. It also demonstrates that they are playing important roles in the establishment of a new post GFC UK finance escalator. However, whilst these schemes were found to be currently complementary and effective, their future roles within the UK’s evolving post GFC seed and early stage equity markets are also considered. Key Words: Government Equity Schemes, Venture Capital, Potential High Growth SME

Non-clinical community interventions: a systematised review of social prescribing schemes

Abstract Background: This review focused on evaluation of United Kingdom social prescribing schemes published in peer-reviewed journals and reports. Schemes, including arts, books, education, and exercise ‘on prescription’ refer patients to community sources of non-clinical intervention. Method: A systematised review protocol appraised primary research material evaluating social prescribing schemes published 2000-15. Searches were performed in electronic databases using keywords, and articles were screened for evaluation of patient data, referral process, assessment method and outcomes; non-evaluated articles were excluded. Results: Of 86 schemes located including pilots, 40 evaluated primary research material: 17 used quantitative methods including six randomised controlled trials; 16 qualitative methods, and seven mixed methods; 9 exclusively involved arts on prescription. Conclusions: Outcomes included increase in self-esteem and confidence; improvement in mental wellbeing and positive mood; and reduction in anxiety, depression and negative mood. Despite positive findings, the review identifies a number of gaps in the evidence base and makes recommendations for future evaluation and implementation of referral pathways

Service Competitiveness and Urban Innovation Policies in the UK: The Implications of the 'London Paradox'

Wood P. Service competitiveness and urban innovation policies in the UK: the implications of the 'London paradox', Regional Studies. The policy models currently employed in British cities to promote urban economic innovativeness and competitiveness echo national policies by being science-, manufacturing- and technology-based. Yet, the most powerful driver of both modern UK economic success and regional and urban inequality has been London-based innovation. This does not depend on local technological initiatives, but on labour-intensive, knowledge-based processes, especially within the financial and business services. This paper examines the importance of service-based innovation and competitiveness in the English urban system, dominated by London, and its implications for urban innovation policies. These currently offer little support to other UK cities either in gaining from London's experience of service-led success, or challenging its dominance over the most innovative tradable services. [image omitted] Wood P. Les politiques en faveur de la competitivite des services et de l'innovation urbaine au R-U: les implications de la 'paradoxe de Londres', Regional Studies. Les modeles employes actuellement dans les grandes villes britanniques afin de promouvoir les politiques en faveur de l'innovation economique urbaine et de la competitivite se font l'echo des politiques nationales, etant basees sur la science, l'industrie et la technologie. Cependant, la force motrice la plus puissante de la reussite economique moderne au R-U et de l'inegalite urbaine a ete l'innovation basee sur Londres. Ceci ne depend pas des actions technologiques menees sur le plan local mais des processus a intensite de main-d'oeuvre bases sur la technologie, surtout au sein des services financiers et aux entreprises. Cet article cherche a examiner l'importance dans le systeme urbain anglais de l'innovation et de la competitivite basees sur les services, dominees par Londres, et ses implications pour les politiques en faveur de l'innovation urbaine. Ces dernieres donnent actuellement peu d'appui aux autres grandes villes britanniques, soit afin de profiter de l'experience de Londres quant a la reussite induite par les services, soit defier sa domination dans le domaine des services commercialisables les plus innovateurs. Politique d'innovation urbaine Services aux entreprises Grandes villes principales Londres Wood P. Wettbwerbsfahigkeit bei Dienstleistungen und stadtische Innovationspolitiken in Grossbritannien: die Auswirkungen des 'London-Paradoxes', Regional Studies. Die von britischen Stadten derzeit eingesetzten politischen Modelle zur Forderung urbaner Wirtschaftsinnovation und Wettbwerbsfahigkeit sind ein Abbild der landesweiten Politiken, da sie auf Wissenschaft, Produktion und Technologie grunden. Der wirksamste Faktor fur den wirtschaftlichen Erfolg des modernen Grossbritanniens sowie fur die regionale und urbane Ungleichheit liegt jedoch in der von London ausgehenden Innovation. Dieser Faktor hangt nicht von lokalen technologischen Initiativen ab, sondern vielmehr von arbeitsintensiven und wissensgestutzten Prozessen, insbesondere im Bereich der Finanz- und Geschaftsdienstleistungen. In diesem Beitrag wird die Bedeutung der Innovation und Wettbwerbsfahigkeit im Bereich der Dienstleistungen des von London dominierten englischen Stadtsystems untersucht, und es werden die Auswirkungen fur urbane Innovationspolitiken erortert. Diese Politiken bieten anderen britischen Stadten momentan nur wenig Unterstutzung: Weder ermoglichen sie es ihnen, von Londons Erfahrung mit Erfolgen im Bereich der Dienstleistungen zu profitieren, noch rutteln sie an der vorherrschenden Stellung der Hauptstadt im Bereich der meisten innovativen handelbaren Dienstleistungen. Stadtische Innovationspolitik Geschaftsdienste Kernstadte London Wood P. Competitividad de los servicios y politicas de innovacion urbana en el RU: los efectos de la 'paradoja de Londres', Regional Studies. Los modelos politicos actualmente empleados en ciudades britanicas para fomentar la innovacion y la competitividad economicas urbanas son un reflejo de las politicas nacionales al basarse en la ciencia, la manufactura y la tecnologia. Sin embargo, el desencadenante mas poderoso del exito economico del Reino Unido moderno y las desigualdades regionales y urbanas ha sido la innovacion de Londres. Esto no depende de las iniciativas tecnologicas a nivel local sino de los procesos con alto nivel de conocimientos y mano de obra, especialmente en los servicios financieros y comerciales. En este articulo examino la importancia de la innovacion y la competitividad de los servicios en el sistema urbano de Inglaterra dominado por Londres y sus repercusiones para las politicas innovadoras urbanas. Estas ofrecen en la actualidad poco apoyo a otras ciudades britanicas ya sea para aprovechar de la experiencia de Londres en cuanto al exito de los servicios o al desafiar su dominio en los servicios comerciables mas innovadores. Politica de innovacion urbana Servicios comerciales Ciudades centrales LondresUrban innovation policy, Business services, Core cities, London,