Award

Science & Technology Venture Capital Fellowship

DESNZ & DSIT GROUP COMMERCIAL

This public procurement record has 2 releases in its history.

Award

21 Aug 2024 at 11:33

Tender

27 Mar 2024 at 16:34

Summary of the contracting process

The Department for Science, Innovation, & Technology (DSIT), based in London, UK, has awarded a contract for the "Science & Technology Venture Capital Fellowship" programme. This contract, valued at £1,391,760 and signed on 24 May 2024, is aimed at increasing the capabilities of UK-based mid-career venture capital investors in science and technology sectors. The procurement process, initiated as an open procedure, has culminated in the awarding of the contract to Imperial College Projects London. This 12-month pilot programme, with the potential for a one-year extension, addresses the education and training services category and will cover various research-intensive industries, including deep-tech and life sciences, throughout the UK.

This tender presents significant opportunities for businesses that specialise in venture capital, particularly those looking to deepen their expertise and network within the science and technology sectors. Mid-level professionals from VC firms and high-calibre entrepreneurs transitioning into venture capital stand to benefit greatly. Given the programme’s focus on advanced investment practices and fostering a pipeline of future fund managers, firms that can offer robust training capabilities and have experience in scaling innovative high-growth companies will find this contract particularly advantageous. The initiative aims to bridge current skills gaps, thereby unlocking further investment and growth in the UK's cutting-edge research sectors.

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Notice Title

Science & Technology Venture Capital Fellowship

Notice Description

DSIT has procured 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.

Lot Information

Lot 1

A pilot Venture Capital Fellowship, focused on boosting the capabilities and capacity of UK-based mid-career VC investors, giving them the tools and creating the network to increase the allocation of capital into UK science and technology, with an initial focus on R&D intensive industries. 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.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-044dcc
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/026648-2024
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

80 - Education and training services


CPV Codes

80000000 - Education and training services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£1,391,760 £1M-£10M

Notice Dates

Publication Date
21 Aug 20241 years ago
Submission Deadline
29 Apr 2024Expired
Future Notice Date
Not specified
Award Date
23 May 20241 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Contracting Authority (Buyer)

Main Buyer
DESNZ & DSIT GROUP COMMERCIAL
Additional Buyers

DEPARTMENT FOR SCIENCE, INNOVATION, & TECHNOLOGY

Contact Name
Not specified
Contact Email
jack.millward@beis.gov.uk, jack.millward@dsit.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
N/A
Post Town
Not specified
Country
Not specified

Major Region (ITL 1)
Not specified
Basic Region (ITL 2)
Not specified
Small Region (ITL 3)
Not specified
Delivery Location
Not specified

Local Authority
Not specified
Electoral Ward
Not specified
Westminster Constituency
Not specified

Supplier Information

Number of Suppliers
1
Supplier Name

IMPERIAL COLLEGE PROJECTS LONDON

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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