Posted on Aug 02, 2012 by Sandy Finlayson |
I have just been reading a couple of publications with riveting titles – “Entrepreneurial Impact, The Role of MIT – An Updated Report” and “Spin-outs UK Limited”.
Their content is much more interesting than their titles might suggest. The key finding of the MIT report is that MIT Alumni, who are alive and working today, have been responsible for creating no fewer than 25,800 companies, employing three million people and generating annual of sales of $US 3.3 Trillion!
Spin-outs UK is the second annual report compiled by Young Company Financetracking performance of all universities across the UK. Oxbridge, Imperial, Warwick and the Scottish region dominated by the performance of Edinburgh come out on top.
Some of our universities are now fostering a culture of entrepreneurship which would have been unthinkable ten years ago and it is beginning to have some impact.
However, much of the success of MIT must be down to the engagement of capital with innovation and a willingness of investors to support innovative new companies. If America emerges from the recession quicker than Europe it will largely be down to their culture of entrepreneurship and their highly developed venture capital industry.
Within the UK we now have the most generous tax breaks available anywhere in the world under the Enterprise Investment Scheme to support entrepreneurship. The newSeed EIS scheme offers 50% income tax relief and for this year only, investors are able to completely shelter capital gains of up to 28% for anyone looking for Capital Gains Tax Shelter therefore they can invest up to £100,000 this year and obtain 78% tax relief. A start up company is defined as one being less than two years old and with fewer than 25 employees.
This is an extraordinary opportunity for investors to support the best of the new companies emerging from our universities.
MIT have shown the way and all we need to do to pull the country out of recession is to connect willing investors with those who have the energy and enterprise to build the great new innovative companies of tomorrow.
You never know you might just back the next Google!
0131 226 8202