FEI plans to feed VC cash to UK IT startups

The Federation of the Electronics Industry (FEI) is hoping to inject some life into the moribund market for UK IT venture capitalism with a meet and greet two-day event. The idea of the event is for entrepreneurs and money men to discuss investment to promising startups.

The Federation of the Electronics Industry (FEI) is hoping to inject some life into the moribund market for UK IT venture capitalism with a meet and greet two-day event. The idea of the event is for entrepreneurs and money men to discuss investment to promising startups.

The organisation will hold an event March 24-25 in Churchill College, Cambridge, to be opened by technology minister Barbara Roche and with UK entrepreneur Bob Jones making the keynote speech.

"Hi-tech companies in this country need to put themselves forward and convince investors that they can offer real returns," Jones said.

The FEI said the total value of investment deals in the UK has enjoyed a sharp incline in the last two years. In 1996, 28 investments were made in UK technology sector with a value of £101.8 million compared to 63 investments worth £124.9 million last year, according to Unquote Database Analysis.

"Although this recent trend is encouraging, the FEI believes that there is still considerable, untapped investment potential in this country's hi-tech sector," said FEI director general, Anthony Parish.

The forum is supported by the DTI and sponsored by Schroder Ventures, Ernst & Young, Nabarro Nathanson and Celtic House Investment Group.

FEI: 0171-331 2002

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