Links › Glossary of terms
This page contains a glossary of terms used to identify the links in this section. Please note that we are not responsible for the content of external sites.
Early Growth Funds
Business angel matched funding schemes were launched as part of the government's early growth funding initiative. These operate on the basis of a fund provided by the government that is invested alongside business angel funding. Further information:
Equity
Ownership interest in a corporation, represented by the shares of stock, which are held by investors.
London
The definition of London and Greater London used by the London Technology Fund is the 32 boroughs and the City of London. You can check whether you are in London using this postcode checker:
Mezzanine
Loan finance which is halfway between equity and secured debt, either unsecured or with junior access to security.
Objective 2 Areas
These are areas which qualify for certain types of support funded by the EU. Objective 2 Areas within London are shown in Appendix 1 of the London Objective 2 Programme 2000-2006.
Regional Development Agencies
Regional Development Agencies (RDAs) were established by Government to promote sustainable economic development in England. Their main tasks are to help the English regions improve their relative economic performance and reduce social and economic disparities within and between regions. There is an RDA in each of the nine regions of England. In many cases the RDA's website provides information on sources of funding (including grants administered by the RDA) and locally-based advisers (including Business Link). For further information see relevant websites. See www.englandsrdas.com for links to all the RDAs and other organisations, as well as related information.
Regional Venture Capital Funds
The Regional Venture Capital Funds (RVCFs) were established to focus on investing in the equity gap. Each of the nine regions of England has its own RVCF. All RVCFs have similar rules: they must invest in SMEs in their region, they must be the first institutional investor, their initial investments are limited to €250,000 and they can follow on after 6 months or more with a further €250,000. Each fund can also invest in a company at subsequent rounds to prevent dilution. See other regions for links to each of the nine funds.
Small and Medium-sized Enterprise
The definition of a small and medium-sized enterprise (SME) used by the London Technology Fund is a business or company that has fewer then 250 employees; and has either (a) annual turnover not exceeding €50m or (b) annual balance sheet not exceeding €43m.
Small Firms Loan Guarantee scheme
Loans provided by commercial banks where the lack of security is replaced by a guarantee from the government covering 75% of the loan, for which the borrower pays a 2% premium to the government. Lending limit is £250,000, turnover limit is £5.6m and the company must be under five years old. The commercial aspects of the loan are matters between the borrower and the lender.
Technology Transfer Office
The technology transfer office (TTO) in a university typically handles the transfer of technology and expertise through the formation of spin-out companies, licensing, consultancy, training, design and development projects, contract research, testing and evaluation, and problem solving. Contact details for individual technology transfer offices are listed on the Unico (University Companies Association) website. Unico was founded in 1994 to represent the technology exploitation companies of UK universities. It provides a forum for exchange and development of best practice. See:
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