Tender

Science & Technology Venture Capital Fellowship

DSIT

This public procurement record has 1 release in its history.

Tender

27 Mar 2024 at 16:33

Tender Notice
Summary of the contracting process

The Department for Science and Innovation and Technology (DSIT) is looking to partner with an implementing organisation for the "Science & Technology Venture Capital Fellowship" programme. The aim is to enhance investor capability in identifying and supporting scaling firms in science and technology sectors, particularly deep tech and life sciences. The pilot programme will run for 12 months with a possible extension, supporting a cohort of 20-30 professional investors. The total contract value is £1,500,000. The tender is in the open procedure stage, with a closing date for tender submissions on April 29, 2024. The contract period is expected to start on May 27, 2024, and end on May 27, 2025.

This tender offers growth opportunities for UK-based venture capital firms, entrepreneurs, and professionals with expertise in deep tech and life sciences sectors. Businesses interested in investing in science and technology ventures, including those from other asset classes, are encouraged to participate. The tender prioritizes SMEs, making it accessible to a wide range of businesses. With the UK government's focus on developing talent in the financing ecosystem, this initiative aims to create a network of high-performing investors and fund managers, ultimately contributing to the commercialization of the UK's science and technology sectors.

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Notice Information

Notice Title

Science & Technology Venture Capital Fellowship

Notice Description

DSIT is seeking to procure an implementing partner to design and deliver a "Science and Technology (S&T) Venture Capital Fellowship", a 12-month pilot programme with the possibility to extend for a further year. Enhancing investor capability to identify opportunities and deploy capital into scaling firms with a focus on science and technology, is critical to reaching the UK's ambitions. In particular, research-intensive sectors such as deep-tech and life sciences require talented investors with deep domain expertise and a specialised understanding of the characteristics associated with these sectors such as longer investment horizons and scaling needs. While the UK already has an impressive set of venture capital (VC) firms that specialise in these sectors, capacity and skills gaps have been reported, and these are likely to be exacerbated by greater demand put on the system by capital due to be unlocked from institutional investors as part of the Mansion House reforms (see below). Moreover, both the Life Sciences Scale-up Taskforce and the Council for Science and Technology (CST) have identified a lack of S&T specialist investors in the UK. The development of new funds which may help to reduce funding gaps are also reliant on the development of talent in the UK financing ecosystem. To address this gap, at the autumn statement it was announced that the government will establish a S&T VC Fellowship programme. This Fellowship will support the investor base to better access, engage with and ultimately invest in the UK S&T ecosystem, supporting a growing network of high performing investors and funds across UK S&T VC and ultimately creating a pipeline of future S&T fund managers ready to commercialise the UK's science and tech base. As a pilot programme, the Fellowship should support a one-year cohort of 20-30 professional investors, drawn from high potential mid-level professional talent from UK-based VC firms (experienced Associate/Manager/Principal level) and high calibre entrepreneurs transitioning into venture capital with a strong interest in investing into Deep Tech and/or Life Sciences. In line with the Mansion House Reforms, we propose to include participants from other asset classes seeking to invest into unlisted equities. Full information and how to apply for this tender can be found here under 'live opportunities': https://beisgroup.ukp.app.jaggaer.com

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-7c12b905-4b45-4bd4-9032-eba824e5f471
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/65558a62-0d08-4cd5-a6a7-1a5750d5c3e1
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

80 - Education and training services

CPV Codes

80000000 - Education and training services

Notice Value(s)

Tender Value
£1,500,000 £1M-£10M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
27 Mar 20241 years ago
Submission Deadline
29 Apr 2024Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
26 May 2024 - 27 May 2025 1-2 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
DSIT
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
SW1H 0NB
Post Town
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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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. 

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