Award

GB-Sheffield: future funds

BRITISH BUSINESS BANK

This public procurement record has 1 release in its history.

Award

26 May 2020 at 12:50

Award Notice
Summary of the contracting process

The British Business Bank has recently completed a procurement process titled "GB-Sheffield: future funds," aimed at supporting innovative businesses in the UK adversely affected by Covid-19. This financial consultancy service, valued at £5,730,000, was initiated with a tender period that ended on 4th May 2020 and a contract period running from 18th May 2020 to 17th November 2021. Located in Sheffield, this initiative falls under the services industry category, specifically focusing on financial consultancies, although the procurement method details were not specified.

This tender presents substantial opportunities for businesses specialised in financial consultancy and those innovative companies that are pre-revenue or pre-profit, needing equity investment. As the Future Fund initiative intends to provide matching government support through convertible loan notes, firms with experience in investment facilitation or consultancy services tailored to start-ups would be particularly well-suited to compete. By partnering with eligible investors, businesses can potentially secure significant funding to navigate the challenges posed by the pandemic and drive future growth.

Find more tenders on our Open Data Platform.
How relevant is this notice?

D3 Tenders Premium

Win More Public Sector Contracts

AI-powered tender discovery, pipeline management, and market intelligence — everything you need to grow your public sector business.

Start Free Trial Book a Demo
All Features Pricing

Notice Information

Notice Title

GB-Sheffield: future funds

Notice Description

2.1.1The Chancellor of the Exchequer announced the establishment of a new scheme to support innovative businesses in the UK currently impacted by Covid-19 (the "Future Fund"). The Future Fund is aimed at businesses that have been unable to access other government business support programmes either because they are pre-revenue or pre-profit and/or typically rely on equity investment. The support provided will be in the form of convertible loan notes ("CLN") into eligible companies on a 'matched basis' meaning there is a requirement for eligible investors to make an investment into the company as a condition to receiving government support.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-23141450-5c99-4c4b-a58c-bcba61e2701c
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/dd1b326a-334a-42cb-8bc9-59eb9769e742
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66171000 - Financial consultancy services

Notice Value(s)

Tender Value
£5,730,000 £1M-£10M
Lots Value
Not specified
Awards Value
£5,730,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
26 May 20205 years ago
Submission Deadline
4 May 2020Expired
Future Notice Date
Not specified
Award Date
3 May 20205 years ago
Contract Period
17 May 2020 - 17 Nov 2021 1-2 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
BRITISH BUSINESS BANK
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
SHEFFIELD
Postcode
S1 2GQ
Post Town
Sheffield
Country
England
Major Region (ITL 1)
TLE Yorkshire and The Humber
Basic Region (ITL 2)
TLE3 South Yorkshire
Small Region (ITL 3)
TLE32 Sheffield
Delivery Location
Not specified
Local Authority
Sheffield
Electoral Ward
City
Westminster Constituency
Sheffield Central

Supplier Information

Number of Suppliers
1
Supplier Name

PRICEWATERHOUSECOOPERS

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

Download

The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

{
    "tag": [
        "compiled"
    ],
    "id": "ocds-b5fd17-23141450-5c99-4c4b-a58c-bcba61e2701c-2020-05-26T13:50:02+01:00",
    "date": "2020-05-26T13:50:02+01:00",
    "ocid": "ocds-b5fd17-23141450-5c99-4c4b-a58c-bcba61e2701c",
    "language": "en",
    "initiationType": "tender",
    "tender": {
        "id": "BIP496579612",
        "title": "GB-Sheffield: future funds",
        "description": "2.1.1The Chancellor of the Exchequer announced the establishment of a new scheme to support innovative businesses in the UK currently impacted by Covid-19 (the \"Future Fund\"). The Future Fund is aimed at businesses that have been unable to access other government business support programmes either because they are pre-revenue or pre-profit and/or typically rely on equity investment. The support provided will be in the form of convertible loan notes (\"CLN\") into eligible companies on a 'matched basis' meaning there is a requirement for eligible investors to make an investment into the company as a condition to receiving government support.",
        "status": "complete",
        "classification": {
            "scheme": "CPV",
            "id": "66171000",
            "description": "Financial consultancy services"
        },
        "items": [
            {
                "id": "1",
                "deliveryAddresses": [
                    {
                        "countryName": "British Oversea Territories"
                    },
                    {
                        "countryName": "Channel Islands"
                    },
                    {
                        "countryName": "Europe"
                    },
                    {
                        "countryName": "Isle of Man"
                    },
                    {
                        "countryName": "Rest of the World"
                    },
                    {
                        "countryName": "United Kingdom"
                    }
                ]
            }
        ],
        "value": {
            "amount": 5730000,
            "currency": "GBP"
        },
        "procurementMethodDetails": "Not specified",
        "tenderPeriod": {
            "endDate": "2020-05-04T23:59:59+01:00"
        },
        "contractPeriod": {
            "startDate": "2020-05-18T00:00:00+01:00",
            "endDate": "2021-11-17T23:59:59Z"
        },
        "suitability": {
            "sme": false,
            "vcse": false
        },
        "mainProcurementCategory": "services"
    },
    "parties": [
        {
            "id": "GB-CFS-79024",
            "name": "British Business Bank",
            "identifier": {
                "legalName": "British Business Bank"
            },
            "address": {
                "streetAddress": "Steel City House, West Street",
                "locality": "Sheffield",
                "postalCode": "S1 2GQ",
                "countryName": "UK"
            },
            "contactPoint": {
                "name": "Procurement",
                "email": "Procurement@british-busines-bank.co.uk",
                "telephone": "02039051462"
            },
            "roles": [
                "buyer"
            ]
        },
        {
            "id": "GB-CFS-144327",
            "name": "PricewaterhouseCoopers LLP",
            "identifier": {
                "legalName": "PricewaterhouseCoopers LLP"
            },
            "address": {
                "streetAddress": "7 More London Riverside SE1 2RT"
            },
            "details": {
                "scale": "large",
                "vcse": false
            },
            "roles": [
                "supplier"
            ]
        }
    ],
    "buyer": {
        "id": "GB-CFS-79024",
        "name": "British Business Bank"
    },
    "awards": [
        {
            "id": "ocds-b5fd17-23141450-5c99-4c4b-a58c-bcba61e2701c-1",
            "status": "active",
            "date": "2020-05-04T00:00:00+01:00",
            "datePublished": "2020-05-26T13:50:02+01:00",
            "value": {
                "amount": 5730000,
                "currency": "GBP"
            },
            "suppliers": [
                {
                    "id": "GB-CFS-144327",
                    "name": "PricewaterhouseCoopers LLP"
                }
            ],
            "contractPeriod": {
                "startDate": "2020-05-18T00:00:00+01:00",
                "endDate": "2021-11-17T23:59:59Z"
            },
            "documents": [
                {
                    "id": "1",
                    "documentType": "awardNotice",
                    "description": "Awarded contract notice on Contracts Finder",
                    "url": "https://www.contractsfinder.service.gov.uk/Notice/dd1b326a-334a-42cb-8bc9-59eb9769e742",
                    "datePublished": "2020-05-26T13:50:02+01:00",
                    "format": "text/html",
                    "language": "en"
                },
                {
                    "id": "2",
                    "documentType": "tenderNotice",
                    "description": "Please follow this link to view the notice.",
                    "url": "https://www.delta-esourcing.com/delta/respondToList.html?noticeId=496579612"
                }
            ]
        }
    ]
}