The £9 million White Rose Technology Seedcorn Fund was created in 1999 through the DTI ’s University Challenge competition. It is designed to plug the funding gap for fledgling companies looking for early stage venture capital investment. It was granted £4.5 million from the DTI (the largest award made) and was boosted by a total of £1.5 million from the member universities. In 2003, regional development agency Yorkshire Forward added a further £3 million.
Working closely with the technology transfer offices of the member universities, the fund invests in commercial opportunities based on innovation and research expertise and has a portfolio of exciting new companies with high growth potential. To date has invested in 18 spinout companies from a wide range of scientific disciplines.