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Institutions of Innovation: British Business Bank

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
'Institutions of Innovation' is a series of monthly interviews with the institutions driving the UK's innovation policy. Each contribution gradually pieces together the UK's innovation landscape; setting out the key actors, what they do, where they sit and how industry can engage, including through techUK.
The webpage from techUK discusses the role of the British Business Bank (BBB) in fostering innovation and economic growth in the UK. The BBB, established in 2014, operates as a government-owned but independently managed bank aimed at increasing the supply of credit to small and medium-sized enterprises (SMEs). It does not lend or invest directly but works through a variety of programs and partnerships to enhance finance availability. Key initiatives include the Start Up Loans programme, the Enterprise Finance Guarantee, and the ENABLE Funding programme, which help in providing finance where traditional banking might fall short. The article highlights how the BBB supports innovation by backing businesses at various stages of their lifecycle, from start-ups to more established companies looking to scale up, thereby contributing to job creation, regional development, and the UK's competitiveness in global markets. Additionally, the BBB's efforts are aligned with broader government strategies to promote a dynamic, entrepreneurial economy.

Read the Full techUK Article at:
[ https://www.techuk.org/resource/institutions-of-innovation-british-business-bank.html ]